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.
The VBA has partnered with the Compliance Education
Institute to provide a Certified Regulatory Vendor Program
Manager (CRVPM) training program to our member banks. The (CRVPM)
course provides bankers with the regulatory knowledge,
methodology and best practices to build and manage a compliant
third-party oversight program that meets FFIEC Guidance and GLBA