Virtual Seminar – Cannabis Banking in Virginia: Practical Guidance

Conference/Seminar/School Gail Queen

This year, Virginia became the 18th state, and the very first Southern state, to legalize adult-use marijuana.  While non-medical retail sales are still in the distance, now is the time for Virginia financial institutions to gain an understanding of the opportunities, risks and practical considerations around offering services to the businesses in this cash-intensive, high-growth industry.  

Accordingly, on October 19 at 1pm EST, the Virginia Bankers Association and Green Check Verified will present “Cannabis Banking in Virginia: Practical Guidance,” a two-hour presentation designed specifically around the current and future Virginia cannabis banking market. 

Register Now!

Target Audience

  • Board Members
  • CEOs
  • CFOs
  • Compliance and Risk Officers
  • Branch Operations Managers
  • Business Development Teams
  • Lending Officers
  • Marketing and Communications Teams


Stacy Litke, Director of Banking Compliance Oversight at Green Check Verified, is an Analytical and creative Banking and Financial Technology professional, focused on cannabis banking. Passionate about finding the right solution for the right problem, and supporting all things small and local.

Paul Dunford, Director of Program Development at Green Check Verified, is Co-founder and Director of Program Development at Green Check Verified. Paul has extensive experience leading digital transformation initiatives predominantly in the healthcare and retail verticals. Previously he was retained by a Fortune 100 insurance company to design and implement a sophisticated solution for managing their field sales teams. At Green Check, Paul leads the compliance team that designs cannabis banking programs for financial institutions. Paul is an active member of the cannabis banking regulatory community, contributing to trade publications and speaking virtually and in-person across the country on the subject.


Taught by Green Check Verified subject matter experts, who have helped build and launch successful cannabis banking programs across the country, this three part educational event covers the following topics.

Session 1: The Fundamentals of Cannabis Banking 

  • Essential terminology: cannabis/marijuana/hemp, THC/CBD
  • The cannabis market opportunity in the US
  • Defining cannabis businesses and identifying their needs
  • Federal and state cannabis law, guidance, and regulations
  • FinCEN’s 2014 marijuana banking guidance: what you need to know
  • Locating and onboarding cannabis businesses
  • Ongoing monitoring and working with your examiner

Session 2: Quantifying the Risks and Rewards 

We’ll review a case study, based on a financial institution serving this market in a state with a new adult-use marijuana program, and use that information to conduct both a financial modeling and risk assessment exercise. From the financial modeling exercise, you will learn to identify the products and services you can (and should) offer to cannabis businesses beyond simply accepting deposits and the costs associated with running a program. The risk assessment exercise will not only help you provide a point-in-time assessment of your readiness to bank the industry but also highlight the operational decisions that must be made when working with cannabis-related funds.

Session 3: Special Considerations in Virginia 

Virginia’s legal cannabis industry comes with its own particular challenges and opportunities.  In this section, we will explore the current state of Virginia’s cannabis market; where that market is headed; and what financial institutions in Virginia need to understand to grow with this industry safely and effectively.  


  • Copies of all presentation materials
  • A cannabis banking policy template
  • A copy of the sample financial model developed during the session
  • A copy of the sample risk assessment questions developed during the session
  • 90-day access to a recording of the session

Registration Fees

Member Rate: $125

Non-Member Rate: $625

Registration ends October 18, 2021.

Cancellation Policy

All cancellations will be charged a $25.00 administrative fee. Cancellations received less than 72 business hours before the program will be charged a $75.00 administrative fee plus any additional fees associated with the training. Substitutions are allowed prior to the beginning of course.

Special Needs

Please share any specific needs that should be considered as we plan for the seminar (i.e., hearing impaired, sight impaired, etc).  Please contact Gail Queen with any details.