🎙In this episode of Under the Microscope with Jenny, host Jenny Germano, sits down with Chris Van Dyke, Partner at Cogent Law, to break down one of the most complex and often misunderstood areas of the cannabis industry: banking. Chris brings a rare, dual-perspective background, having helped launch one of the early cannabis banking programs and serving as a state regulator during the rollout of the 2014 FinCEN guidance. Today, he advises banks and credit unions on how to safely and effectively serve cannabis-related businesses (CRB’s). Together, Jenny and Chris unpack the fundamentals defining key terms like BSA (Bank Secrecy Act), and SARs (Suspicious Activity Reports) while exploring the shared compliance burden between operators and financial institutions. They walk through the real risks banks face, particularly around BSA/AML compliance, and why many institutions remain cautious despite growing demand.

The conversation also addresses common misconceptions about cannabis banking, the evolving regulatory landscape, and why financial institutions are increasingly entering the space from fee-based revenue opportunities to portfolio diversification and long-term customer loyalty. Jenny and Chris dive into practical guidance for operators, including how to vet a cannabis-friendly bank, what to expect during onboarding and due diligence, and how to position your business as a low-risk, transparent customer. This episode is a must listen for operators looking to secure and maintain strong banking relationships, reduce compliance risk, and better understand how financial institutions are navigating the cannabis industry behind the scenes.

🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting

⏰𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀⏰

01:05 Chris Intro & Background

𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.