Recorded: August 20, 2015

Length: 60 Minutes

Opportunity exists in one of today's fastest growing industries. In 2014, the U.S. legal marijuana market grew 74% to become a $2.7 billion dollar business. Currently, 28 states and the District of Columbia have legalized marijuana for recreational or medical purposes. The industry, however, struggles with an inability to access banking services. Many community bankers who were recently shell shocked by Operation Choke Point are hesitant to consider another high risk customer. Nonetheless, the marijuana industry presents the prospect of highly attractive returns.

Join us for a 60-minute webinar to discuss the coalescing views of state and federal law enforcement and regulators. We'll also discuss the systems and procedures needed to consider banking this industry.

Presenters: Peter G. Weinstock and Heather Eastep

Peter Weinstock, Co-Practice Group Leader of the national firm of Hunton & Williams. Peter's practice focuses on corporate and regulatory representation of small ($10-15 million) to mid-size (several billion dollars) financial institutions.

For the past 14 years, Peter has served as co-editor of ICBA's, "Subchapter S: The Next Generation" newsletter. He is the author of numerous articles in law and banking publications. His article, "Acquisitions of Failed Banks - Present Risk and Opportunity," was voted the second best article appearing in The Risk Managers Association Journal of 2011. He has spoken at over 125 banking conferences and seminars, including for over the last ten years, ICBA's annual conference.

Heather Eastep, Partner of the national firm of Hunton & Williams. Heather's practice focuses on the corporate and regulatory representation of commercial banks, holding companies, and other financial institutions. She advises clients on a broad variety of bank regulatory and securities compliance matters, including consumer compliance, third party risk, compliance management, Bank Secrecy Act and anti-money laundering compliance, response to formal and informal administrative actions, Regulation O, transactions with affiliates and other general compliance matters and financial institution related topics.

1 CPE Credit

Program Level: Basic-Intermediate

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