Home Cannabis Banking Working Group Los Angeles

    Cannabis Banking Working Group Los Angeles

    Los Angeles Cannabis Banking Working Group

    August 10, 2017 9:30 am America/Los_Angeles

    About the Cannabis Banking Working Group
    On November 8, 2016, California voters passed Proposition 64, legalizing the use of recreational cannabis. However, the use, possession, and sale of cannabis remain a federal crime. The federal government still considers marijuana a Schedule I drug under the Controlled Substances Act. As a result, banks and other financial institutions generally refuse to provide services to cannabis businesses.
    To solve this problem, State Treasurer John Chiang has convened the Cannabis Banking Working Group (CBWG). The working group, made up of representatives from law enforcement, regulators, banks, tax authorities, local government and the cannabis industry, is charged with finding practical and timely ways to address the state-federal conflict.

    The location for the August 10, 2017 Cannabis Banking Working Group meeting in Los Angeles has been set:

    Sheraton Gateway Hotel
    Laguna / Malibu / Redondo Rooms
    6101 West Century Blvd.
    Los Angeles, CA  90045

    The meeting will start at 9:30 a.m. and is expected to go until 1:30 or 2:00 p.m.  The meeting is open to the public and no RSVP is required.  The agenda is as follows:



     Panel A: Public Bank Models and Historical Perspective
    a. Kevin Klowden, Executive Director, California Center and Managing Economist,
    Milken Institute
    b. James Barth, Professor, Auburn University, and Senior Finance Fellow, Milken

     Panel B: Public Bank Opportunities
    a. Gwendolyn Hallsmith, Executive Director, Global Community Initiatives
    b. Jon Lunsford, President, California First Financial
    c. Matt Stannard, Policy Director, Commonomics USA

    3. BREAK

     Panel C: Public Bank Challenges
    a. Don Childears, President/CEO, Colorado Bankers Association
    b. David Cotney, Advisor, RateGravity, and Former Commissioner, Massachusetts
    Division of Banks

     Panel D: Future Outlook for the Cannabis Industry
    a. Michael Steinmetz, CEO and Co-Founder, Flow Kana
    b. Sumit Mehta, Partner, Mazakali



    *Meeting is expected to end between 1:30 and 2:00 p.m.

    Read More:
    Cannabis Banking Working Group: http://www.treasurer.ca.gov/cbwg/index.asp