SANTA FE – The New Mexico Regulatory and Licensing Department (NMRLD) announced that Financial Institutions Division Director Mark Sadowski and Superintendent Linda Trujillo will be attending the 2022 Cannabis Banking Symposium on May 14-15. June hosted by the National Association of State Credit Union Supervisors (NASCUS) in Denver, Colorado.
The US legal cannabis industry is expected to reach $30 billion in 2022. As a result, demand for banking services will continue to grow. Credit unions need to understand the complex policy issues related to the cannabis industry and state regulators need to understand the cannabis industry to assess a credit union’s true risk profile.
“As the cannabis industry grows, more and more credit unions may be interested in learning more about potential cannabis banking opportunities, and it’s important that we have this information in order to may it be a win-win situation for credit unions and the cannabis industry. in New Mexico,” Superintendent Trujillo said.
The symposium is designed to provide financial institutions and regulators with the latest updates on the cannabis industry.
Topics to cover include:
- State Legalization of Cannabis: Today and Tomorrow;
- cannabis, insurance and data analysis;
- Hemp Banking Updates;
- Cannabis bank: lessons learned and board governance; and
- Compliance Considerations.
The National Association of State Credit Union Supervisors is the national association advocating for a strong and healthy state credit union system, and whose members include state regulators, credit unions credit unions, credit union leagues, and organizations that support the state credit union system.
The New Mexico Department of Regulation and Licensing, home to the Financial Institutions Division, regulates more than 500,000 individuals and businesses in 35 industries, professions and trades across the state. Our goal is to ensure that New Mexicans receive quality services from qualified individuals and businesses while ensuring a fair and expeditious administrative process.