What does the new marijuana law mean for CUs? Find out at complimentary webinar

The New York Credit Union Association is hosting a complimentary webinar at 10 a.m. on Friday, April 9 exploring the state’s new Marijuana Regulation & Taxation Act – signed by Gov. Andrew Cuomo on Wednesday — and what legalized, adult-use marijuana means for credit unions.

While New York has officially joined the growing list of states that have legalized the recreational adult use of marijuana, credit unions are well aware that the new law has wide-ranging implications for virtually all New York businesses, and especially the financial services industry, which will be tasked with providing banking services to marijuana businesses despite the federal prohibition on cannabis.

This webinar will focus on the multitude of issues to consider, even for credit unions that have no desire to get involved with cannabis banking. For credit unions that are interested in serving the marijuana sector, there are even more considerations and nuances to study. And while parts of the Marijuana Regulation & Taxation Act don’t take effect until 2022, others became effective immediately after Gov. Andrew Cuomo signed the legislation.

For more information on the webinar, “Banking Marijuana: New York’s Marijuana Regulation and Taxation Act,” and to register, visit the Association’s website.

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