January 10, 2017


Articles Written by, Featuring, or Citing MRB Monitor

April 16, 2019: Joint Solutions: A Multi-Pronged Approach to Banking Marijuana-Related Businesses, ACAMS International AML & Financial Crime Conference (co-panelist)

January 17, 2019: Barr eases pot banking concerns, but banks still in limbo (quotes)

December 6, 2018: Banking Marijuana – Northeast Ohio ACAMS Chapter Event (presenter)

November 14, 2018: Managing Compliance Risks of Banking Marijuana-Related Businesses (webinar)

October 22, 2018: AML Conversations: The Major Challenges of Banking Marijuana Businesses (interview)

  • Discussion with John Byrne, EVP of the ACAMS from 2010 to 2017, on his “AML Conversations” podcast

August 24, 2018: How to tell if you’re banking a pot business, American Banker (quotes): 

  • “Most bankers assume that whatever [business clients] put down to be honest, which is a fundamental flaw,” said Steven Kemmerling, founder and CEO of MRB Monitor, which specializes in identifying and managing marijuana-related risk.  “Almost no owners volunteer that they are owners of a marijuana business.”
  • “Kemmerling says banks and credit unions should include MRB questions in the due diligence process…Before you start looking at transactional data, the first step is always due diligence…What’s the true nature of the account? Why rely on behavioral analysis when you can have a better understanding of what they are from the beginning?”
  • “While most financial institutions have ‘no marijuana’ policies, they lack effective controls to enforce that, Kemmerling said.”

April 20, 2018: Cannabis Banking, 15th Puerto Rico AML Symposium (co-panelist)

April 10, 2018: Overcoming Obstacles in Banking Marijuana Related Businesses, American Banker Retail Conference (co-panelist)

March 15, 2018: The Cannabis Conundrum, Bank Director Magazine (quote): “Steven Kemmerling, founder and CEO of MRB Monitor, which tracks the marijuana industry, says he thinks 400 is a high number, and he only knows about two dozen financial institutions that are intentionally banking marijuana businesses. “I also think all banks bank marijuana, but they don’t know it,’’ he says. An investigation he did based on state licensing records found that some of the biggest banks in the country bank the beneficial owners of cannabis businesses, whether the banks knew about the marijuana businesses or not.

February 5, 2018: Fed Backs Marijuana-Focused Credit Union, Wall Street Journal (quote): “It’s not a clear win for marijuana banking, in my opinion,” said Steven Kemmerling, CEO of MRB Monitor, which compiles data on the marijuana industry. “Most people believe that federal laws are going to change,” he added. But “who knows when that will be?”

January 4, 2018: For banks, DOJ reversal on pot will have ‘chilling effect’, American Banker (quote): “I personally would not expect an immediate, widespread crackdown,” Steve Kemmerling, CEO of the consulting firm MRB Monitor, said in an email, “but I do expect a big chill to fall across the marijuana industry.  “The ‘recreational’ marijuana market in particular could be facing some serious challenges as it has zero protections from federal prosecution.”

November 21, 2017: Clearing the Haze: An Update on the Marijuana Industry & Key Legal and Regulatory Considerations for Financial Institutions ACAMS Chicago Chapter Event at the Federal Reserve Bank of Chicago (co-presenter)

September 26, 2017: Continued Confusion or Clarity?: The Latest On Banking Marijuana Businesses ACAMS 17th Annual AML & Financial Crime Conference (co-panelist)

September 12, 2017: Marijuana and Banking: What Everyone Needs to Know CBANC Network (webinar)

January 31, 2017: “Marijuana and Banking: What Everyone Needs to Know” aka “How ignoring the marijuana industry is a bigger risk to your FI than you realize”, CBANC Network (webinar)

January 12, 2017: Big Banks Worked with Pot Industry, Despite Denials, Records Show, American Banker (featured; quote)

December 8, 2016: Banking Compliance Issues in Legalized Marijuana, Atlantic Community Bankers Bank (webinar/co-presenter)

November 18, 2016: Will Trump’s AG Pick Just Say No to Pot Banking?, American Banker (quote)

September 20, 2016: Defining “Marijuana-Related Business,” ACAMS Today (sole author) (note: a PDF of this article is available on our “Premium Content” page)

Aug 16, 2016: Financial crime experts get in the weeds over marijuana banking services, Tampa Bay Business Journal (featured)

July 13, 2016: Marijuana Business Burns Small Illinois Bank, American Banker (quote)

March 4, 2016: Non-Bank Payments Aren’t a Long-Term Answer for Legal Marijuana, Payments Source (co-author)

January 20, 2016: View from the Pinstripes: How a Banker Sees a Cannabis Account, Leafly.com (featured)

December 31, 2015: Shh!  Here’s How Cannabis Companies are Banking on the Down Low, Leafly.com (citation) (note: This article cites/links to an analysis co-authored by MRB Monitor and Dynamic Securities Analytics.)

December 24, 2015: Experts Debunk 5 Myths About Marijuana Industry, Credit Union Journal (co-author)

December 24, 2015: Banks Weighing Pot Business Find Haze of Misinformation, American Banker (co-author)

December 17, 2015: Don’t Bet on a Pot-Banking Fix Next Year, American Banker (citation) (note: This article cites/links to an MRB Monitor analysis in another American Banker article).

November 5, 2015: Corruption Currents, Wall Street Journal (citation) (note: This article cites/links to “Reviews of marijuana related suspicious-activity reports” created by MRB Monitor and Dynamic Securities Analytics.)

November 3, 2015: Legal Clash Exposes Contradictions in Fed’s Pot-Banking Rules, American Banker (citation)

November 3, 2015: New Marijuana Banking SAR Data Has International Implications, Blog Post (co-author)

November 3, 2015: Securities Brokers Have (Relatively) Open Arms to Marijuana Businesses, Blog Post (co-author)

June 15, 2015: Consequences of Conflicting Federal and State Marijuana Laws (note: this link will download a PDF), State of Utah Department of Commerce, Division of Occupational and Professional Licensing (citation)

August 25, 2015: Conflict and Uncertainty: Due Diligence Challenges for Marijuana-Related Businesses, ACAMS Today (co-author) (note: a PDF of this article is available on our “Premium Content” page)

April 15, 2015: Some Banks Serve Marijuana Businesses As Others Axe Them, Wall Street Journal (citation)

April 13, 2015: Some Banks Are Working with Marijuana Businesses, But They Remain Wary, Huffington Post (citation) (note: Huffington Post links to an analysis we created with Dynamic Securities Analytics)

April 13, 2015: Financial institutions mixed on serving marijuana industry customers, Inside Counsel (citation)

April 13, 2015: Who is Filing Suspicious Activity Reports on the Marijuana Industry? New Data May Surprise You., Blog Post (co-author)

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