White Paper

5 Pages
  • 5 Pages

Marijuana, Gambling, Virtual Currencies, and Payday Lending


Learn how the financial industry can avoid the compliance pitfalls.

Today’s bank must consider nontraditional banking services in areas that were once considered outside the banking zone; products such as virtual currency, payday lending and marijuana-related businesses. However, too few resources to learn about these services can result from many different sources. This white paper reviews this areas including training, software used for monitoring, compliance officers overburdened, too much unnecessary information, and misaligned compliance.



James DeFrantz, CRCM, CAMS, J.D.

James DeFrantz, CRCM, CAMS, J.D.

Virtual Compliance Management

  • 30 years of experience in financial service regulatory compliance
  • Worked with money service businesses in the United States and internationally, including consulting with money remitters, Fintech lenders and foreign exchange firms
  • Specialist in compliance in consumer and real estate lending, BSA, CRA, fair lending, consumer operations, non-deposit investment products, note department operations, assessment of ALL, and credit approval process
  • Served as a senior compliance examiner at the Federal Reserve Bank in San Francisco, as an analytical manager at the Office of Thrift Supervision, and as a commissioned national bank examiner at the Office of the Comptroller of the Currency (OCC)
  • Certified Regulatory Compliance Management and Certified Anti- Money Laundering Specialist
  • Certificate, Pacific Coast Banking School of Bank Management; J.D. degree, with a concentration in banking and finance, University of San Francisco; B.A. degree, Dartmouth College

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