Deputy Seminar, Denver, CO

Banking Marijuana Related Businesses

• January 4 th - AG Sessions rescinds the Cole Memo • FinCEN Guidance February 14, 2014 – SAR structure remains the same • NYDFS July 3, 2018 Guidance on Provision of Financial Services to Medical Marijuana & Industrial Hemp- related businesses in New York https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/New_York_Online_Lending_Survey_Report.pdf • BSA Advisory Team – Best Pratices on exam findings • COMING SOON : Updated FinCEN Guidance

Coming soon: FASB’s Current Expected Credit Losses (CECL) • CSBS Industry Readiness Tool—Issued September 2017 • Updated FAQs from the federal agencies - 2017 • Examination Workprogram/questionnaire – July 12, 2018 – Rapid Response • COMING SOON : Ask the Regulator – July 30, 2018 • FFIEC: Policy Impact Review

Effective  Date

First Call  Report

Effective Dates PBE that is an SEC  filer:  PBE that is not a  SEC filer:

Effective Date

fiscal years beginning after 12/15/2019 (generally,  January 1, 2020) fiscal years beginning after 12/15/2020 (generally,  January 1, 2021) fiscal years beginning after 12/15/2020 (generally,  January 1, 2021)

1/1/2020 March  2020 1/1/2021 March  2021 1/1/2021 December  2021

Non PBEs: