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Myths and Misinformation About Cannabis Banking Services

Tune in to learn more about myths and misinformation about cannabis banking services with Green Check Verified CEO Kevin Hart today on NCIA’s Cannabis Industry Voice. Green Check Verified is a leading provider of cannabis banking solutions and expert advisory services for financial institutions. He is an experienced, passionate, team-oriented leader that has held executive positions in venture-backed technology companies. Hart specializes in developing strategic plans coupled with organizational development with strong metrics-driven execution to achieve the next level of results. His diverse experience includes strategic planning, start-up and/or expanded business strategies, organizational development, sales organizations, and operational execution. All with exceptional executive relationships and BOD development.

Taking a look at the big picture, dispelling the misinformation and myths about banking in the cannabis industry, all of the challenges, and we know the SAFE Banking Act has passed the U.S. House six times now but died in the Senate. So there’s a lot of cash-heavy operations happening out there, but there is SOME KIND of banking services being used in our industry. We can use our debit cards at certain dispensaries for an extra fee, for example. Let’s say Congress passes some comprehensive federal legalization legislation or the standalone bill the SAFE Banking Act somehow makes its way to the President’s desk and gets signed into law. The idea is that this will allow banks to work with cannabis companies without getting in trouble with the DOJ. So we talk about what would that look like from Kevin’s perspective. Bigger picture, federal legalization will likely lead to opening up interstate commerce and even international commerce for our industry which would open up a whole new can of worms. We dive into what would the relationship between bankers and cannabis companies look like in that scenario.