Cannabis Banking in 2025
By:
Tara L. Wean
Benjamin T. Crowley
Guest: Michael Beird, Author of Cannabis Banking: Legal Framework and Practical Solutions for Cultivating Compliance
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking topics. TMIB is available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute, at your desk, or at home.
Topic: Cannabis Banking in 2025
Our guest is Michael Beird, Author of Cannabis Banking: Legal Framework and Practical Solutions for Cultivating Compliance.
Welcome to today’s episode of This Month in Banking, where we explore the evolving landscape of community financial institutions. Today, we’re diving into a rapidly emerging and complex area: cannabis banking. We’ll be joined by Michael Beird, an expert in the field, to unpack the opportunities and challenges this industry presents for community financial institutions. We’ll start by hearing about Michael’s unique career journey before tackling the potential for core deposit growth and fee income within the cannabis sector. We’ll then delve into the critical risk considerations, including BSA, compliance, reputational, cash handling, and political factors, and discuss the barriers to entry that community FIs must navigate. We’ll also provide a timely update on the SAFER Banking Act and offer practical advice for leaders considering this line of business. Finally, we’ll share how you can access Michael’s insightful book and connect for further information. Listen and enjoy!
Biography
Michael Beird, founding partner of the Association of Cannabis Banking is responsible for driving the strategic vision of the organization. With 40 years experience in financial services, Michael Beird provides leading edge consulting and education to industry practitioners through both live and virtual platforms. During his long career in the financial services industry, Michael has been a branch banker, auditor, M&A analyst, workforce optimization manager, procedural reengineer, bank advisor across 4 continents, event director, research director for banks and credit cards for JD Power, and now CoFounder of the leading online education platform in financial services.
Relevant Links:
Michael Beird LinkedIn
Association for Cannabis Banking
This podcast relates to The Kafafian Group’s Strategic Management service. Click here for more information.
Watch for episode 112 of This Month in Banking to be released on Wednesday, April 30th, 2025, and a new episode on the last Wednesday of every month.
Thank you for listening!