NMRLD News:

SANTA FE — The New Mexico Regulation and Licensing Department (NMRLD) has announced that Financial Institutions Division Director Mark Sadowski and Superintendent Linda Trujillo are attending the 2022 Cannabis Banking Symposium June 14-15 hosted by the National Association of State Credit Union Supervisors (NASCUS) in Denver, Colo.

The US legal cannabis industry is predicted to top $30 billion in 2022. As a result, the demand for banking services will continue to intensify. Credit unions need to understand the complicated policy questions related to the cannabis industry and state regulators need to understand the cannabis industry to evaluate a credit union’s true risk profile. 

“As the cannabis industry grows, more credit unions may be interested in learning more about the potential possibilities of banking cannabis-related businesses, and it is important that we have this information so that it’s a win-win for the credit unions and 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 be covered include:

• State Cannabis Legalization: Today and Tomorrow;
• Cannabis, Insurance, and Data Analytics;
• Hemp Banking Updates;
• Cannabis Banking: Lessons Learned and Board Governance; and
• Compliance Considerations.

The National Association of State Credit Union Supervisors is the national association that advocates for a strong and healthy state credit union system, and whose members include state regulatory agencies, credit unions, credit union leagues, and organizations that support the state credit union system. 

The New Mexico Regulation and Licensing Department, which houses 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 assure that New Mexicans receive quality services from qualified individuals and businesses while also ensuring a fair and prompt administrative process.