Sundie Seefried, CEO and president of Safe Harbor Financial, was a panelist on “Small Banks And Credit Unions: The Creators Of The American (Cannabis) Dream” at Benzinga’s Cannabis Capital Conference. Seefried shared that one of the biggest challenges of financing the cannabis industry is the regulatory scrutiny that follows.
She went on to say that in the “first seven years Safe Harbor was banking cannabis, we went through 16 state and federal examinations. They [were] sending 20 BSA officers from across the country into one small credit union to scrutinize everything we do. Normally you would have one exam maybe every 12 to 18 months. That's the type of scrutiny the financial institutions get under when they [invest in] a high-risk market like cannabis.”
Interested in learning more about the Benzinga Cannabis Capital Conference? Get more information here.
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!