Banks are no longer required to file suspicious activity reports (SARs) for customers engaging in the growth or cultivation of hemp. Under the 2018 Farm Bill, hemp has been reclassified. DEFINITION OF HEMP The 2018 Farm Bill now defines hemp as a variety of cannabis that contains .3% or less tetrahydrocannabinol (THC). By doing this, […]
DISCLAIMER: Our organization does NOT offer Payment Protection Program (PPP) loans. The information presented in this blog post is for informative purposes only. Keep Your Employees on Payroll and Help Cover Operating Costs During COVID-19 The CARES Act Paycheck Protection Program (PPP) is providing a loan option for small businesses through the Small Business Administration […]
Relief for Financial Services Centers & Employees On March 27, 2020, President Trump signed a $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act relief bill that will provide support to those that are experiencing hardships due to COVID-19. The CARES Act includes: Direct payments ($1,200/individuals, $2,400/family, $500/child) to individuals at specified income level […]
The On POinT Training Center now offers a subscription program for businesses that allows you to efficiently maintain and oversee a multitude of compliance employee training responsibilities year-round. Our compliance experts have built a unique learning experience that combines customized features and benefits along with an already intuitive employee training platform. The On POinT Training […]
The New Year is here and it is time to start off on the right foot by updating your BSA/AML/OFAC Compliance Program. To help with that, we wanted to share The Ultimate Regulatory Compliance Checklist to keep your policies and procedures up-to-date. Amending your BSA/AML/OFAC Compliance Program is an essential part of maintaining your banking […]
