The cannabis industry carries with it tremendous potential and opportunities for merchants, suppliers and backers. But for banks, the sector isn't so clear cut. What's legal in a growing number of states remains illegal on the federal level, and that places financial institutions at a tricky intersection.
Tony Repanich, president and chief operations officer for Shield Compliance, breaks down how banks can work within the industry to manage risk, comply with regulations and satisfy operational demands associated with the market.
Tony recently penned an article focused on cannabis banking.
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