Cannabis Stock News- Investing in Cannabis and Hemp Stocks : Investor Ideas #Potcasts 616, #Cannabis News and #Stocks on the Move; Interview with Becky Postar COO of HDCS (Higher-Risk Deposit Compliance Solutions)

Investor Ideas #Potcasts 616, #Cannabis News and #Stocks on the Move; Interview with Becky Postar COO of HDCS (Higher-Risk Deposit Compliance Solutions)

Delta, Kelowna, BC, December 2, 2021 (Investorideas.com Newswire) www.Investoride, as.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.

Listen to the podcast:

https://www.investorideas.com/Audio/Podcasts/2021/120221-StocksToWatch.mp3

Read this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/12021Interview-HDCS.asp

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Today’s podcast overview/transcript:

Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.

In today’s podcast Investorideas interviews Becky Postar, the COO of HDCS (Higher-Risk Deposit Compliance Solutions), where we discussed the recent move from JP Morgan to no longer trade in OTC Cannabis stocks, industry banking compliance today and how it is evolving as well as how banking for the cannabis sector is expected to evolve and expand with growing demand and regulatory changes.

Becky is a veteran banking officer of 20 years who has extensive experience in business development, lending, and compliance training for multiple banks. She has deep domain expertise in BSA, AML, KYC and the evolving cannabis regulations.

When asked about HDCS as well as her background in the industry Postar commented, “HDCS is a full-service boutique consulting company. Our clients are financial institutions that either are banking higher risk industries (primarily cannabis and crypto) or want us to assist with the implantation of a higher-risk compliance program. We are passionate about guiding financial institutions through the processes of implementing a risk-focused compliance banking program, including the beginning steps of research, to implementation and supporting the financial institution through regulatory examinations, and not just depository services but lending as well.”

Postar continued, “I am the COO of HDCS and I am a veteran banker with over 20 years of experience including both community and big banks with experience in internal audit, creating and implementing training programs, commercial credit underwriting and commercial lending. Most recently, I moved into cannabis banking and have become a subject matter expert in the cannabis industry specifically around laws, regulations and legislation.”

When asked about how the recent announcement from JP Morgan has affected HDCS and if there has been any positives or negatives as far as attracting new clients, Becky commented, “Uhm, a little bit of both. This could mean even less FIs are entering the cannabis space but it does solidify why an FI would want to look into hiring a consulting firm like mine. I am zero % surprised by the announcement and here is why: This is a net new industry. We do not have the long-term data that we have on other industries that spans over decades. Some are saying we are approaching a bubble, not only in the US but another one in Canada, so the timing for the announcement from JPMorgan is not surprising.”

Becky continued discussing some of the larger risks and issues facing the cannabis industry today such as , “Not a lot of large institutions welcome cannabis related businesses and for most CRBs companies they find it difficult to find companies willing to work with CRB and when they do, the pricing is much higher. For example: crop insurance, 401(k) plans and other benefits for their employees, Armored car services and additional expenses on security and competing against the black market.”

The discussion of Federal legislative change continues to hang over the industry, and in regards to realistic expectations Postar commented, “with the changes in the Senate as a result of the last election, I thought we would see banking reform. The SAFE Banking Act of 2021 has bipartisan support to pass, but key Democrats won’t release it to let it have its time on the floor because they are demanding broader reform. Most Americans support reform, but it is going to take some more work to get key Republicans on board. And how can we do that? We could start by passing the research bills that are in Congress and banking reform. Look at alcohol prohibition, change doesn’t happen overnight so we should pass what we can pass while working on broader reform.”

Postar continued, “I mentioned earlier that there will always be a banking shortage for the cannabis industry, and here’s where we sit today according to the FinCEN Marijuana Banking Update date June 30, 2021: 706 financial institutions filed Marijuana Related SARs comprised of 518 Banks and 188 Credit Unions with 202,734 total SARs filed. You compare that to June 30, 2017 with 318 Banks and 50 Credit Unions and 28,651 total SARs filed. It is safe to say less than 700 financial institutions have active cannabis banking programs as some of these over 200,000 filings are “Termination” SARs from financial institutions that do not wish to bank the industry. Me and others in the industry believe this number to be closer to 200 or less.”

Becky went on to discuss some of the current banking compliance issues facing the industry today and how she sees changes on the horizon as well as HDCS’s recent webinars on the cannabis industry and what many clients are looking for guidance on.

To find out more information regarding HDCS visit their website here.

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