Chris Call on DOJs Plans to Classify Marijuana as Less Dangerous Drug & What that Means for Credit Unions

Credit Union Exam Solutions Presents With Flying Colors

In this episode of With Flying Colors, host Mark Treichel talks with Chris Call, CEO of North Bay Credit Union in California, about the challenges and developments in banking for the cannabis industry. Since California legalized recreational cannabis in 2017, North Bay Credit Union has successfully banked cannabis operators, growing its portfolio and expanding services nationwide. They discuss the evolution of cannabis banking, the impact of regulatory changes, and the implications of recent DEA announcements on the industry. The conversation also covers the Safe Banking Act, the process and significant hurdles for financial institutions in cannabis banking, and the potential effects of rescheduling cannabis on research, investment, and the overall industry. Chris Call highlights the ongoing complexities of cannabis banking despite possible legal and regulatory reforms, emphasizing that a complete normalization of the cannabis economy still faces several challenges.

00:00 Maximizing Success with NCUA: Insider Tips
00:40 Special Guest Introduction: Chris Call, CEO of North Bay Credit Union
01:19 The Evolution of Cannabis Banking in California
02:28 Challenges and Learnings in Cannabis Banking
06:37 Expanding Services: The Journey into Cannabis Lending
09:12 Navigating the Legislative Landscape: Safe Banking Act and DEA Announcements
14:24 The Future of Cannabis Banking and Industry Impact
20:47 Closing Thoughts and Future Prospects