The DFI released updated examination procedures for marijuana related businesses directed to DCU examination staff.

Included in the procedures is an appendix that focuses on pricing of accounts for, and lending to, marijuana related business accounts.  It is an eye-opening read for credit unions considering loaning to these businesses.

In addition to the updated examination procedures, the DFI has a number of resource documents available at http://www.dfi.wa.gov/banks/marijuana that credit unions that do, or are thinking of, serving marijuana related businesses can use.

All credit unions may want to review the updated examination procedures to determine impact, if any, during their next audit visit.