[NEW EPISODE] Safely Banking the Cannabis Industry

One of the most taboo subjects surrounding the evolving Cannabis industry is the subject of banking.

Since Cannabis has not been legalized on the Federal-level, there have been many obstacles for businesses who want to deposit their earnings with banks in the U.S.

It is neither safe, nor prudent, for Cannabis businesses to keep their money sitting around in cash, but what other choices do they have at this moment?

Visiting Planet Pakalolo is Becky Burrell-Postar, Director of Product and Business Development at HDCS, Inc. (which stands for Higher-Risk Deposit Compliance Solutions).

Becky and her team provide comprehensive solutions to financial institutions that are interested in banking higher-risk depositors, like those involved in the world of Cannabis. 

This team was designed by bankers, for bankers, to serve as an extension of bank compliance teams, advising on policy and procedure, screening cannabis related businesses (CRBs) and providing ongoing monitoring and risk management.

There is a tremendous opportunity out there moving forward...it is time to mitigate the risks and realize the ROI!

Tune in for this crazy conversation at TalkRadio.nyc or watch the Facebook Livestream by Clicking Here.

Show Notes

Segment 1

Jonny and his guest, Becky Burell-Postar, talk about banking in the cannabis industry. Burell-Postar mentions the Safe Banking Act, how it’s relevant to cannabis business banking, and the political side of the vote to pass it. She mentions the values and limitations to current economic cannabis legislation, and how supreme courts have bee immensely helpful in passing certain kinds of legislation.

Segment 2

The two continue to talk about Cannabis regulation. Burell-Postar mentions cannabis being more heavily regulated than plutonium, making cannabis laws excessive comparatively to other substances. She talks about her philosophy when consulting cannabis business clients compared to other high-risk businesses.

Segment 3

Jonny and Becky talk further about cannabis laws specific to the state of texas, where she is from. Texas does not have a strong medical marijuana program compared to other states like New York and New Mexico. Becky talks about her career experience in a risk related field. In West Texas, she was the only woman in her workplace, and had the largest portfolio of anyone she worked with. She witnessed the shift between being a technically federally illegal business, to a business regulated by the federal government.

Segment 4

Jonny and Becky Burell-Postar wrap up by pushing the importance of serving your community, and cannabis legislation’s part in protecting the community from unsafe substances. Becky mentions that she doesn’t think cannabis will be federally legalised this year, but it will most likely occur in the next ten years. Jonny asks Becky some fun getting-to-know-you questions to end the episode on a high note

Transcript

00:00:36.750 --> 00:00:48.180 Jonny Tsunami: And we're here i'm Johnny tsunami, and this is planet taco low low a less taboo view For those of you who don't know park a low low is why and slang for crazy tobacco.

00:00:48.600 --> 00:00:57.990 Jonny Tsunami: But this show is about taking the crazy out of cannabis, by removing the stigma stereotypes and taboos related to this illustrious plant.

00:00:58.290 --> 00:01:09.930 Jonny Tsunami: And interviewing professionals that are diving deep into the cannabis space today's guest is becky poster she's gonna be helping us understand the safe way to bank in the cannabis industry.

00:01:10.290 --> 00:01:19.710 Jonny Tsunami: she's the director of product and business development for htc sync and she is going to just school us on a few things related to cannabis banking becky how are you today.

00:01:20.790 --> 00:01:21.990 Becky Postar: Good how are you.

00:01:22.560 --> 00:01:33.270 Jonny Tsunami: i'm doing good so tell us give us a little bit back yep 20 years 20 plus years in the banking space so just give us a little taste of banking before we go into banking in the cannabis world today.

00:01:34.950 --> 00:01:46.290 Becky Postar: For me yeah i've been in banking I served 20 plus years in banking and I i've done everything from being a Teller to new accounts working an internal audit corporate training.

00:01:48.270 --> 00:01:52.560 Becky Postar: and credit under writer for large.

00:01:53.640 --> 00:01:58.380 Becky Postar: Large loans and then being a commercial lender as well, so we've we've kind of done it all.

00:01:59.010 --> 00:02:09.210 Becky Postar: My CEO company he started banks from the ground up de Novo banks and so we've got we've got together about over 50 plus years of banking experience.

00:02:09.810 --> 00:02:12.570 Jonny Tsunami: And that's the kind of people that we need in the space that's the.

00:02:12.900 --> 00:02:23.220 Jonny Tsunami: People that we want this kind of experience, that we want so let's talk about the safe act Maybe you can school our our listeners in a little bit about what the safe Act was and he is.

00:02:23.640 --> 00:02:33.480 Becky Postar: yeah so the safe banking act is a bill that has yet to be passed in and made into the law, although it has the boats to do it and i'll explain that so.

00:02:33.720 --> 00:02:44.790 Becky Postar: It has been passed by the House, and four times two times completely directly passed by the House to other times within a Cobra relief bill, but the.

00:02:45.720 --> 00:02:55.170 Becky Postar: Right now, it is in the House, it has the bipartisan support to actually if it were to make it to the floor, it would pass him become law.

00:02:55.800 --> 00:03:06.540 Becky Postar: But there's a few key senators that are very pro cannabis legalization advocates and that are preventing the state banking to pass.

00:03:07.020 --> 00:03:22.440 Becky Postar: To to get to the floor to prove a point which I respect but i'm kind of like can't we chew gum and walk at the same time can't we pass, what has the votes to pass and also work on larger reforms so.

00:03:23.220 --> 00:03:30.750 Becky Postar: i'm hopeful that will give both at least the safe banking act passed and what it is, for it is a act that.

00:03:31.530 --> 00:03:42.210 Becky Postar: Significantly protects financial institutions that choose to go into banking the industry and supporting the industry, because what the issue is for banks is that all, though.

00:03:42.900 --> 00:03:53.880 Becky Postar: In within a state that a bank can be it is state legal and cannabis is still considered a schedule one illegal substance and banks are.

00:03:54.900 --> 00:04:04.230 Becky Postar: monitored and regulated by the Federal Government so that's just a natural conflict that banks are dealing with, but the biggest i'm.

00:04:04.980 --> 00:04:10.170 Becky Postar: In the safe banking act like you and i've talked about this, the safe banking act is definitely not a perfect law.

00:04:10.470 --> 00:04:24.510 Becky Postar: A perfect act there is there are flaws to it, but one thing that I personally love is that they've written in the ability for the Federal Government to provide SBA lending, which would be a game changer for the industry, because even though.

00:04:25.650 --> 00:04:37.770 Becky Postar: A lot of cannabis businesses have access to banks on a depository level almost zero have level to lending through banks, and so this would be a game changer because.

00:04:38.490 --> 00:04:48.660 Becky Postar: There are fair lending laws and so banks are regulated with how much they can charge so, even though a cannabis business would be charged a higher rate to a bank.

00:04:49.140 --> 00:05:00.780 Becky Postar: For several reasons, and we can go into that later, but they would be charged way less than what they're being charged an interest rates today so that's in a nutshell, the safe maintenance.

00:05:02.220 --> 00:05:08.280 Jonny Tsunami: Right now, when we piggyback off that what other acts do you see as an advanced made for the cannabis community.

00:05:08.880 --> 00:05:16.410 Becky Postar: Okay, so there's several you know there's the one that the senators I mentioned earlier, that are kind of preventing the safe, thank you for me getting to the floor.

00:05:17.160 --> 00:05:24.540 Becky Postar: And they introduced the canvas administration opportunity act very recently, the CEO a and.

00:05:25.050 --> 00:05:28.860 Becky Postar: That would be a game changer this very similar to the more act has been introduced, the House.

00:05:29.220 --> 00:05:38.550 Becky Postar: And that's about completely be scheduling and decriminalizing cannabis and for our non cannabis friends out there, what gets confusing is.

00:05:39.000 --> 00:05:50.220 Becky Postar: It doesn't legalize sales federally just decriminalized and be schedules, so that would be a game changer, of course, but you and I mentioned that we talked about this earlier, the.

00:05:51.060 --> 00:05:57.330 Becky Postar: there's several bills that could be game changers for the more conservative Congress.

00:05:57.870 --> 00:06:08.700 Becky Postar: People and that's the research acts are out there, allowing researchers, scientists to research, the actual cannabis that people are consuming from dispensary's that are getting produced mysteries.

00:06:09.300 --> 00:06:17.130 Becky Postar: allowing them to research that couldn't be a game changer because right now researchers are very limited they're given.

00:06:17.760 --> 00:06:24.810 Becky Postar: Cannabis from the da from one cultivation site Mississippi which is by definition.

00:06:25.560 --> 00:06:41.190 Becky Postar: That step is more Hampton it is actually cannabis, but if you're actually able to research, what we are really consuming, then we would have facts of what it can and can't do and facts, in my opinion, change minds that's that's what we need.

00:06:41.670 --> 00:06:42.780 Jonny Tsunami: You can't fight fence.

00:06:43.110 --> 00:06:50.790 Becky Postar: You can't fight facts and another thing to we're talking about what's in legislation but there's a whole nother story with what's in.

00:06:51.390 --> 00:07:09.270 Becky Postar: courts so there's a lot going on and State Court Supreme Court, I mean it is daily and those have changed a lot more than legislation I mean what people are fighting what your your business owners your cannabis business owners are fighting with their local state and federal.

00:07:10.380 --> 00:07:27.240 Becky Postar: supreme courts have been game changers a lot of associations to like what normal does, I mean they back these people up with their lawsuits and it's there's been some there's a lot of pending, you know what there's a lot that i'm actually has passed that makes a difference.

00:07:28.170 --> 00:07:33.840 Jonny Tsunami: And i'm right now i'm just reading a little snippet off the article that the founder and the CEO he wrote.

00:07:34.290 --> 00:07:41.730 Jonny Tsunami: We do believe that more institutions will move into cannabis banking over time once federal clarity around regulation has been established.

00:07:42.120 --> 00:07:48.330 Jonny Tsunami: But they will do it with comprehensive programs and the intention to produce a return for taking on the additional risk.

00:07:48.660 --> 00:07:58.770 Jonny Tsunami: There are other changes that can also be very positive for the industry with federal blank banking clarity the large payment interchanges Visa, MasterCard amex etc.

00:07:59.130 --> 00:08:08.820 Jonny Tsunami: And also major armored car services like bring some loose fargo will make it much more efficient to courier cash, you know so maybe elaborate a little bit off of that as well.

00:08:11.310 --> 00:08:13.020 Becky Postar: yeah so when there is.

00:08:14.190 --> 00:08:33.690 Becky Postar: I can say banking act or federal the scheduling of the drug war and more people enter into what you get like if the brinks you get Visa, MasterCard and That to me is makes it easier for banks to enter into the space, but like I mentioned earlier, like.

00:08:35.850 --> 00:08:45.540 Becky Postar: Cannabis related businesses will always be considered high risk, even if all of these past, not a whole lot of banks are going to be entering in this space, because not a whole lot of banks.

00:08:46.020 --> 00:08:56.700 Becky Postar: bank high risk customers, for instance casinos check cashing places jewelry stores there's still considered high risk so banks and take a lot of consideration when it comes to.

00:08:57.450 --> 00:09:06.870 Becky Postar: Banking those clients and when it comes to other bigger companies entering the space like we said, make an embrace making it easier, one thing that.

00:09:07.380 --> 00:09:20.160 Becky Postar: I kind of, personally, am an advocate for are the people who've been in this space for the last 10 years that have worked so hard to build their own armored cars service, and I want to see those people succeed.

00:09:21.390 --> 00:09:32.520 Becky Postar: Even after federal legalization I would love to see as us as an industry support those businesses that have been doing it and take it, the punches for the last few years.

00:09:33.030 --> 00:09:41.610 Jonny Tsunami: That that's a really powerful message to because it seems to me that one of the common trends that's occurring in cannabis is that it's just the big boys are just going to.

00:09:42.120 --> 00:09:50.550 Jonny Tsunami: scoop it all right, but they'll do it when it's federally legal which ironically enough, they are also the people that have lobbyists that could probably make it better.

00:09:51.240 --> 00:09:53.190 Becky Postar: exactly right and those.

00:09:53.610 --> 00:10:03.780 Jonny Tsunami: people that are creating their own programs that are taking the risk because they're not big corporate and they're passionate about the plan and they're passionate about making a business from the industry.

00:10:04.890 --> 00:10:09.930 Jonny Tsunami: have to take that risk, and yet the reward maybe not always there.

00:10:11.040 --> 00:10:22.500 Jonny Tsunami: So where do you come in, and I think you obviously I think I know the answer this already, but where you come in and it sounds like a great messages that you're trying to help more more of the small to medium sized people.

00:10:23.580 --> 00:10:30.480 Becky Postar: yeah I mean that's that's exactly right and it's on both ends to so my niche my clientele who.

00:10:31.980 --> 00:10:43.590 Becky Postar: I work for our banks and I don't work for the larger banks, you know they have people internally, like me, so I my target market is the smaller Community bank.

00:10:44.100 --> 00:10:55.470 Becky Postar: You know the one that's like our goal is to service our Community So how do we do that safely and safely is also different than profitably because.

00:10:56.010 --> 00:11:06.030 Becky Postar: there's there's three tiers to doing this kind of business you've got a high risk, and then you have a reward and then you have the resources, do you have the money to.

00:11:06.450 --> 00:11:13.710 Becky Postar: fund their do you have the money for the resources that go into a high risk customer and so that's why we do.

00:11:14.460 --> 00:11:25.950 Becky Postar: help our financial institutions with how to charge, but we definitely are advocates for the industry, and so we don't we definitely don't ever advise gouging you know we want, we want.

00:11:26.700 --> 00:11:37.170 Becky Postar: This bank to be in this space, which is servicing these cannabis related businesses today and 10 years from now 20 years from now, so what does that look like today.

00:11:38.610 --> 00:11:52.980 Becky Postar: How do you create a loyal customer and one thing that is beautiful about this industry, the cannabis industry is that loyalty runs deep you treat you treat a cannabis customer right they're not going anywhere yeah.

00:11:53.070 --> 00:11:57.660 Jonny Tsunami: They have enough obstacle to be in their way, the last thing I need to worry about is their banker.

00:11:58.260 --> 00:12:06.810 Becky Postar: Right right and still not if our clients do it so well and are so close to their customers it's a beautiful it's a beautiful seamless and relationship.

00:12:07.830 --> 00:12:10.140 Jonny Tsunami: check out this chart we were talking about this before.

00:12:11.580 --> 00:12:15.270 Jonny Tsunami: You notice the one area right deductions.

00:12:16.740 --> 00:12:19.920 Becky Postar: yeah it's talking about the tax that the to add yeah.

00:12:20.610 --> 00:12:22.320 Jonny Tsunami: So, give us a little bit of that.

00:12:23.190 --> 00:12:33.960 Becky Postar: Okay So yes, the reason why pricing is so important, with a financial institution is that you have to remember that your cannabis related businesses still can.

00:12:34.410 --> 00:12:39.900 Becky Postar: Technically, considered federally illegal and so, how you know you hear about all these.

00:12:40.770 --> 00:12:45.510 Becky Postar: Mafia guys and they get taken down through taxes well it's because they weren't finally what's called it.

00:12:46.050 --> 00:12:53.520 Becky Postar: To at what that is is when you file your taxes you're also finally in this document that shows the irs that your.

00:12:54.060 --> 00:13:06.570 Becky Postar: That your income is coming from and illegal activity and with that form to you're not allowed to do a lot of deductions so not only are these industries this industry pain.

00:13:07.380 --> 00:13:17.910 Becky Postar: High to get alone you're paying a lot of money you're not allowed to do a lot of deductions at all, and now you also have to pay extreme prices for banking.

00:13:18.330 --> 00:13:38.880 Becky Postar: or you're not paying any prices for banking, but your bank doesn't really know you're there, so no disrespect to the industry, I get it, but to have an open relationship to with your bank to pay just a little bit of money to help your bank stay in the game for years, is what we advise.

00:13:40.140 --> 00:13:56.010 Jonny Tsunami: And now, when i'm sure you've seen some sad faces when clients come in, or when you're talking to them about what they have to do, I mean maybe not so much for the Bank, but on the clients end or for the the actual cannabis businesses it's got to be hurting.

00:13:57.570 --> 00:13:59.340 Becky Postar: yeah and that's another thing that we.

00:14:00.600 --> 00:14:06.000 Becky Postar: kind of piggybacking on that one thing that we offer to our clients to is a training program to.

00:14:06.570 --> 00:14:18.930 Becky Postar: educate the cannabis customer about why is the bank asking for this, why is this important and just knowing what it's what it looks like to have that transparent relationship with the bank because.

00:14:20.070 --> 00:14:37.050 Becky Postar: I think anyone has opened up a checking account or on a loan from a bank knows banks ask for a lot of personal information, but the average person outside of the cannabis industry has no I do cannabis related business has to disclose to a bank and.

00:14:38.460 --> 00:14:49.470 Becky Postar: Needless to say, when a bank, does it right that business owners and managers have a really close relationship with their bankers, they talk almost every day and.

00:14:49.890 --> 00:15:02.730 Becky Postar: It can be really it can be a great relationship, because those bankers i've got some really good banks that are that are in the industry that you know they fight for their clients their clients kind of fight for them and it's it's a great it's that it's a great relationship.

00:15:03.120 --> 00:15:07.830 Jonny Tsunami: And that's as all relationships should be so when we come back we're going to take a little break.

00:15:08.130 --> 00:15:18.900 Jonny Tsunami: And we're going to go a little bit more into the science business method behind what becky does for her clients with her company will be right back i'm Johnny tsunami, this is planted porco low low talk radio nyc.

00:17:34.950 --> 00:17:44.550 Jonny Tsunami: Everyone we're back i'm Johnny tsunami, and this is planet bako low low less taboo view we're here with becky post our director of product and business development for hd CES.

00:17:44.910 --> 00:17:59.430 Jonny Tsunami: We talked a little bit about safe banking and how banking has kind of evolved throughout the past few years, and the benefit of cannabis people, but also some kickback still to fight along the way becky thanks for coming to the show and sharing everything that you know with us.

00:18:00.300 --> 00:18:01.800 Becky Postar: Yes, thanks for having me.

00:18:02.640 --> 00:18:16.710 Jonny Tsunami: So we'd like to get into more a little bit about the approach to science, the business itself, the company that you and your partner created htc, so why don't you tell us just a little bit about where it came from the idea and where it is now.

00:18:17.700 --> 00:18:23.250 Becky Postar: yeah so I mentioned that we we have over 50 plus years of banking experience.

00:18:24.420 --> 00:18:34.830 Becky Postar: And my business partner and CEO at macquarie he came up with the idea of doing this consulting practice for banks.

00:18:36.180 --> 00:18:47.550 Becky Postar: For several reasons, and we were visiting the while back, and I really liked the idea I wasn't working at the time, I would, I have taken some time off to raise my daughter and.

00:18:48.390 --> 00:18:54.450 Becky Postar: He asked, I asked for the investor deck I was going to just invest and then, when he sent me that that deck I.

00:18:54.960 --> 00:19:10.530 Becky Postar: really love the idea, and so I became a partner in the in the business as well, and you know one thing I think that excites me the most I heard this a while back in the industry is that cannabis is regulated more than plutonium and so with that.

00:19:11.790 --> 00:19:21.690 Becky Postar: comes a wide range of burdens for the customer itself and for the bank that wants to bank them, and so what we do is.

00:19:21.990 --> 00:19:33.630 Becky Postar: Banks can hire us and we build programs around what the regulators, want to see which is prevention of money laundering and we help build those programs take a lot of guesswork out of it for the bank.

00:19:34.410 --> 00:19:50.460 Becky Postar: Help train their board on what it all is and make sure that they can do this from day one till day 10 years down the road and have it be a successful program and that's going to be around.

00:19:51.870 --> 00:20:03.750 Jonny Tsunami: So how do you approach cannabis businesses as opposed to other businesses, I mean you said in the past you've worked with high risk businesses so maybe there's maybe they approaches the same but dive a little bit into that tell me a little bit more about.

00:20:04.980 --> 00:20:25.770 Becky Postar: Well, I think what makes and I think some examiners might cringe at this comment that i'm about to make, but what for me makes cannabis banking simpler for banks versus some other high risk businesses like casinos and cash checking businesses.

00:20:26.940 --> 00:20:37.710 Becky Postar: Is that there's the track and trace and seed to sale system where when a cannabis businesses making a deposit into a bank, the bank and actually.

00:20:38.340 --> 00:20:51.510 Becky Postar: Through some software can actually match those deposits and say Okay, so you sold this much that day, and this is how much you're depositing it's good to go so it's it's um it's not simple, but it's very doable to mitigate the risk.

00:20:52.800 --> 00:20:53.190 Jonny Tsunami: And maybe.

00:20:53.550 --> 00:20:57.420 Jonny Tsunami: Take a little bit on the software, because we talked about that too just briefly.

00:20:57.720 --> 00:21:09.420 Becky Postar: yeah so my company is not a software company, but we do work with a few providers out there in the industry that helped banks and connect into that seed to sell software.

00:21:09.870 --> 00:21:18.720 Becky Postar: You know, like metric or bio track, they can actually tap into that and map that into a bank, so they can cross reference what's getting deposited and what's getting.

00:21:19.140 --> 00:21:29.190 Becky Postar: sold so that way, a bank match the funds and be able to show their examiners that they are doing the best they can do to prevent money laundering.

00:21:30.240 --> 00:21:44.970 Jonny Tsunami: And it's big sounds to more and volumes, to the fact that there's many spaces that professionals can enter into the cannabis space technology banking litigation it's not just cultivation it's not just manufacturing right.

00:21:45.090 --> 00:21:56.580 Becky Postar: Well, and that's a huge part of what it and that's how you and I met too is like I love to connect with people in the industry, because one thing that I provide for my banks, one of the many things I provide for my banks.

00:21:56.880 --> 00:21:59.610 Becky Postar: Is I can give them a spreadsheet of referrals so.

00:22:00.480 --> 00:22:12.600 Becky Postar: We mentioned earlier, having a close relationship with your banker, and if the cannabis customer returns their bank, a lot of times with issues like i'm having a hard time finding a payroll provider i'm having a hard time finding insurance.

00:22:13.530 --> 00:22:21.840 Becky Postar: How do I get for one K for my employees, and so I can afford my bank say Okay, these are the people within the industry, I vetted.

00:22:22.290 --> 00:22:28.620 Becky Postar: They provide not only a good program but an affordable program someone who's not out to gouge your clients.

00:22:29.070 --> 00:22:40.710 Becky Postar: And will be around, and so I bet this list, those are kind of my qualifications and so banks will have the spreadsheet and they will refer these companies to their their cannabis related businesses.

00:22:41.490 --> 00:22:49.290 Jonny Tsunami: And, and we were talking, obviously we started the conversation with legislation so that being said, how do you balance.

00:22:50.730 --> 00:22:54.030 Jonny Tsunami: Regulatory amendments and client needs on a day to day basis.

00:22:54.480 --> 00:23:09.690 Becky Postar: Right so that's that's another one of our offers because Community banks are typical client is a small community bank and when I say small they still they still are very large i'm just saying small compared to wells fargo, and so they are.

00:23:10.500 --> 00:23:20.220 Becky Postar: running a bank, and they are dealing with bank regulation and to be able to now layer on cannabis industry rich legislation is a lot.

00:23:20.490 --> 00:23:39.150 Becky Postar: So what I do is I watch for that and I monitor that and I will keep my clients up to date with this changed or this changed or another thing I do is this could change so i'm also watching legislature and like I mentioned lawsuits I like to keep an eye on what could happen.

00:23:39.660 --> 00:23:39.990 Jonny Tsunami: So that's.

00:23:40.320 --> 00:23:48.570 Jonny Tsunami: a wonderful service in and of itself, because if i'm a cannabis, professional and i'm focused, I have a dispensary or something like that right.

00:23:49.470 --> 00:23:57.120 Jonny Tsunami: And i'm looking at it to the cannabis perspective, even though your set your direct client is the banks themselves, they are serving those those clients.

00:23:57.690 --> 00:24:07.170 Jonny Tsunami: And it's like do they have the time to keep on top of that, or maybe they do, maybe they don't but if they have someone like you who's really prime focus is that kind of.

00:24:07.680 --> 00:24:17.130 Jonny Tsunami: Information it really helps to have someone like you, as a partner to be able to tap them on the shoulder and say there's an emerging trend that we may want to take advantage of or.

00:24:18.240 --> 00:24:28.680 Becky Postar: exactly right exactly right and it's not easy and I don't take it lightly, because we've got clients in New York and New Jersey Connecticut Michigan and new Mexico California.

00:24:29.190 --> 00:24:49.470 Becky Postar: Oklahoma and Washington Oregon so like they're all over, and although I think everyone can agree that regulation that a State creates they're somewhat similar I think oklahoma's definitely an outlier and and so as Florida somewhat similar.

00:24:51.150 --> 00:25:12.660 Becky Postar: It does change I think another thing that my non cannabis industry friends don't understand don't realize is that, even though a State has legalized either medical or an adult use, it is up to a local municipality that either allows or doesn't allow so.

00:25:13.770 --> 00:25:20.760 Becky Postar: It like in the state of California, is a huge state but there's a small percentage of the actual counties that allow it within their county and so.

00:25:20.970 --> 00:25:36.000 Becky Postar: Within that county, though, is its own laws, so you have the state regulation, the state regulator, but then within the county it has its own laws and so that's where it is my responsibility to understand what those nuances are and there's.

00:25:36.030 --> 00:25:39.420 Jonny Tsunami: Many states and it sounds like you've got a really.

00:25:40.590 --> 00:25:49.800 Jonny Tsunami: Wide grass there so for our listeners and viewers, even if you're on the east coast becky here can definitely service your needs.

00:25:50.040 --> 00:26:02.430 Jonny Tsunami: So what other tools do you use to assist you in that regulatory process, you know, maybe, something that was from the past of the banking world or maybe there's something new that came in that helps you, you talked about software before but.

00:26:02.850 --> 00:26:06.570 Becky Postar: yeah we talked about, we talked about software and I think this is where.

00:26:08.130 --> 00:26:17.340 Becky Postar: we've noticed that, what does make us different than the other people that I would say competitors, but I haven't really found another.

00:26:17.670 --> 00:26:27.240 Becky Postar: person that does exactly what we do there's not really anyone else in the space that has the banking experience that we do we know how to sit in front of a bank board.

00:26:28.260 --> 00:26:42.060 Becky Postar: and speak their language, we know how to sit across the desk and communicate with an examiner and I know how to create training programs for those individuals as well, so we have this.

00:26:42.600 --> 00:26:51.570 Becky Postar: wide range of knowledge of the banking industry that I haven't really noticed anyone else in this space really.

00:26:52.770 --> 00:27:00.930 Becky Postar: be able to provide and it's a different languages, different sales cycle it's I think what a lot of people don't understand is that, like I mentioned earlier.

00:27:01.350 --> 00:27:12.570 Becky Postar: Whether it's safe banking or federal legalization there's not gonna be a lot of banks jumping in so there's always going to be a banking shortage for these businesses so.

00:27:13.830 --> 00:27:16.530 Jonny Tsunami: I put a little snippet up here, this is actually from your website.

00:27:16.860 --> 00:27:17.460 Becky Postar: yeah it is.

00:27:18.420 --> 00:27:25.980 Jonny Tsunami: yeah so maybe if you want to just elaborate a little bit on the balancing act and where you see it as a team that whole balance between.

00:27:26.280 --> 00:27:32.580 Becky Postar: yeah we mentioned that a little bit before too it's the risk, the resources and the reward.

00:27:32.970 --> 00:27:41.670 Becky Postar: And again we're advocates for the industry as well, so when it comes to the reward we are wanting to show banks, how to have a profitable.

00:27:42.000 --> 00:27:51.060 Becky Postar: program and the point of that is is so they can stay in the business of banking the cannabis industry today and tomorrow.

00:27:51.420 --> 00:27:58.230 Becky Postar: So you don't want to price too high, and you cannot price too low, so there's banks right now that are doing it very, very.

00:27:59.190 --> 00:28:02.490 Becky Postar: Low to no fees and where they're going to run into an issue.

00:28:02.940 --> 00:28:18.720 Becky Postar: Is when there is regulation and guidance is written and so now your federal examiners are coming in and saying, are you doing this, this and this if you don't have the resources to do all of that, you will have to exit the industry and.

00:28:19.470 --> 00:28:26.760 Becky Postar: And we're already seeing that happen and there's already I mentioned this to you offline earlier.

00:28:27.420 --> 00:28:40.410 Becky Postar: A year ago, I would have been able to say no bank in the industry is getting cited for just banking the cannabis, industry and that's changing our regulators have gone to school, you have an idea of how it's going to look when it's regulated.

00:28:40.740 --> 00:28:55.590 Becky Postar: We have an idea what that's gonna look like to, and so there is a way to do it safely and within what we think those guidelines are going to look like and you can't do that for free, not for a high risk customer, unfortunately, but it doesn't have to be.

00:28:57.030 --> 00:29:02.190 Becky Postar: Something that's going to hurt your cannabis industry, you can make a great relationship I doing it right that's.

00:29:02.430 --> 00:29:11.130 Jonny Tsunami: that's great thing to hear so we're going to take a little break when we come back we're going to go a little bit more into the personal side with becky so oh.

00:29:11.580 --> 00:29:13.230 Jonny Tsunami: i'm Johnny tsunami, this is planted.

00:29:13.230 --> 00:29:16.650 Jonny Tsunami: pocket Lola will be right back talk radio and yc.

00:31:47.130 --> 00:31:50.550 Jonny Tsunami: Oh yes, we're back it's planet porco lolo.

00:31:50.730 --> 00:31:52.560 Jonny Tsunami: i'm Johnny tsunami and i'm here.

00:31:52.620 --> 00:32:03.780 Jonny Tsunami: With becky posts are she's flying in all the way from Texas very conservative state lone star state State where they got the beef and sexy Matthew mcconaughey commercials.

00:32:04.410 --> 00:32:12.660 Jonny Tsunami: But they also are starting to open up and allow cannabis to come in and becky's giving us a little taste of that today becky thanks for coming on the show.

00:32:13.260 --> 00:32:14.880 Becky Postar: Thank you for having me it's a pleasure.

00:32:15.480 --> 00:32:27.180 Jonny Tsunami: So I guess I like to you know we do this as the personal section and part of who we are, as people, is where we from where we live our environment shapes us, and one of the things we had spoken about.

00:32:27.750 --> 00:32:46.740 Jonny Tsunami: Prior to this interview was being in the State of Texas cannabis may not always be someone people something people like so maybe you can give us a little taste of what it's like to be someone who's a cannabis connected business in a state that has some reservations.

00:32:47.490 --> 00:33:01.680 Becky Postar: yeah there's there's a few others of us here, you know, one of the I mentioned earlier, that I work with some technology partners that provide solutions for banks and one of them is out of the Austin area so we're not alone.

00:33:02.310 --> 00:33:16.470 Becky Postar: But we are few and far between because in the State of Texas, there is, I want to use air quotes here, there is a medical marijuana program, but I want to clarify that the marijuana that is prescribed is.

00:33:17.940 --> 00:33:29.640 Becky Postar: One I believe it's 1% no no that's what's in legislation it's less than 1% thc which is basically him, I believe, is 0.5% and then.

00:33:30.240 --> 00:33:44.310 Becky Postar: The ailments that it can be prescribed for are less than a handful and then out of the 29 million people that live in the State of Texas there's 4000 patients, so I would say we don't have a medical marijuana Program.

00:33:44.880 --> 00:33:49.590 Jonny Tsunami: moly I was just talking to someone this weekend, and we have 113,000 in New Jersey.

00:33:50.190 --> 00:34:06.720 Becky Postar: Right 4000 in the State of Texas that has 29 million so um you know new Mexico right next door to us and legalized adult use and they'll start sales in spring of next year, if not sooner.

00:34:07.770 --> 00:34:17.610 Becky Postar: They are, I think that might be an awakening for the State of Texas when those numbers start getting released, of how many.

00:34:18.480 --> 00:34:30.600 Becky Postar: Tax dollars, the state of new Mexico is receiving through Canada sales from Texans Texas will be surprised to see that number i'm not surprised to see that number i've got.

00:34:31.140 --> 00:34:44.460 Becky Postar: i've got a residence in new Mexico, so I will not be driving anything back from the State of Texas, but when I am there, I will enjoy being in a state that allows me to have that that that human right.

00:34:45.810 --> 00:34:46.620 good way of putting it.

00:34:48.030 --> 00:34:59.100 Jonny Tsunami: So it's interesting how it happens, like that, though it's like one state does it so New Jersey on the east coast, they they went out, and now you could start to see New York and everyone is really helping.

00:34:59.190 --> 00:35:05.160 Becky Postar: me I think everyone could have guessed that New York was going to after New Jersey New York was like oh no.

00:35:06.300 --> 00:35:21.930 Becky Postar: And, of course, then then comes on Connecticut and Pennsylvania, you know the the governor and the lieutenant Governor of Pennsylvania are demanding for a bill to be on their desk they they are waiting to sign, they just can't get it there, but Pennsylvania will be will be soon.

00:35:23.040 --> 00:35:33.630 Jonny Tsunami: And so you work in risk you deal with risk every day when did you realize that entering the space was worth the risk for you, especially in a state like Texas.

00:35:33.990 --> 00:35:38.520 Becky Postar: I learned early on in my career that.

00:35:40.260 --> 00:35:44.220 Becky Postar: Anything that is worthy comes with risk.

00:35:45.390 --> 00:35:54.300 Becky Postar: And I i'm not adverse to risk I enjoy risk because the rewards ITO the rewards are great you just have to work a little extra harder.

00:35:54.690 --> 00:36:13.920 Becky Postar: And you had to be super focused on your goals you can't divert so and that's when risk actually pays off because I think one thing that is a little antiquated out here in West Texas, as I live in West Texas, which is very conservative area, a very conservative state is that I was.

00:36:15.210 --> 00:36:28.950 Becky Postar: The only female commercial lender here, and it was a very fun job to do, to see that and not only was I wanted the only females, but I also had the largest portfolio, so I love a little risk.

00:36:30.300 --> 00:36:40.440 Jonny Tsunami: I think that's I mean that must have helped you as far as business goes to see that to me that's a good thing that makes you stand out that's that's that's the risk reward right there.

00:36:40.740 --> 00:36:59.550 Becky Postar: yeah I went from No one wanting a female behind a lender desk a lending desk to getting a recruiter call every week, if not more than once a week because they wanted that female lender now they wanted to meet a not a quota but you know they wanted to no longer be an only male.

00:37:01.740 --> 00:37:04.530 Becky Postar: bank, and so it was.

00:37:05.640 --> 00:37:18.600 Becky Postar: A personal victory for me, yes, so i'm taking this on has been even more fun and you know I mentioned to you, we started our business in February of 2020 so it was a little bit of a struggle starting.

00:37:19.350 --> 00:37:30.810 Becky Postar: Having a startup in the middle of Kobe especially a startup that is promoting somewhat not somewhat an actual federally illegal business to a.

00:37:31.410 --> 00:37:49.470 Becky Postar: company that is regulated by the Federal Government, so I found it extra challenging and now we're actually seeing and get really work and our program is strong it's passed federal regulation and it's passed federal exams and so it's been.

00:37:50.700 --> 00:37:51.540 Becky Postar: it's been exciting.

00:37:52.620 --> 00:37:57.780 Jonny Tsunami: And I know you have a quite a bit of a juggling act going on is too, because you also have another business.

00:37:58.170 --> 00:38:08.340 Jonny Tsunami: With your husband is the self storage so which i'm sure he's one of the questions I had for you is like, who was your biggest supporter so who are you need a good support system, maybe that's why I asked the question.

00:38:08.340 --> 00:38:09.060 Becky Postar: Because yes.

00:38:09.600 --> 00:38:09.960 So.

00:38:11.130 --> 00:38:16.860 Becky Postar: yeah so um as much as my husband is a supporter, and he would.

00:38:17.640 --> 00:38:30.540 Becky Postar: He would love for me to work directly with him to help with that business, so you know, I have another support to which is my CEO of this company, he says Andy because he he and I worked in banking for years together and.

00:38:31.080 --> 00:38:43.980 Becky Postar: we've done some possible things in banking and we're looking forward to doing, making the impossible possible again it's been it's been really fun so it's it's a it's a joy to.

00:38:45.690 --> 00:38:56.310 Becky Postar: To to go to work and be successful in something and and to do what not everyone has really done before, so I I love the risk.

00:38:57.330 --> 00:38:59.220 Jonny Tsunami: And i'm and you have kids.

00:39:00.030 --> 00:39:01.440 Becky Postar: I do i'm a six year old daughter.

00:39:01.710 --> 00:39:12.810 Jonny Tsunami: And a six year old daughter okay so, and this is the personal part right, so I have a 10 year old 12 year old six year old daughter definitely at that age where they're getting smarter.

00:39:13.950 --> 00:39:30.000 Jonny Tsunami: How do you handle that the path that balance where it's mom might be dealing with this and people starts, maybe she's still a little young, but even in the foreseeable future, do you see that as being something that you might have to balance as well, since we talked about balance earlier.

00:39:32.070 --> 00:39:43.320 Becky Postar: You know there's several balances with her and in the fact that you know, I have a I have a career and and I do have to work, luckily.

00:39:44.640 --> 00:39:54.750 Becky Postar: Well, I don't want to say, luckily because it's due to coven, but I have the opportunity to work from home more than I did before so that's been fortunate because.

00:39:55.740 --> 00:40:09.240 Becky Postar: As an older parents and I I do recognize that that time goes by, quick so enjoy being around her more than I think I would have been able to before so that is a joy and then.

00:40:11.100 --> 00:40:20.490 Becky Postar: I kind of have to be careful, because I do live, where I live with Mike my daughter going to school and talking about mommy and cannabis, like those two words coming out of the kids.

00:40:21.030 --> 00:40:29.190 Becky Postar: School it could get me in trouble so i'm also that's another balance is um you know I mainly visit with her about.

00:40:29.850 --> 00:40:42.360 Becky Postar: You know I work for banks but and I, you know when she gets older, I will be very open and proud with what I do with her i'm just you know when she's knows how to be careful with the words will be more open.

00:40:42.780 --> 00:40:49.920 Jonny Tsunami: yeah and that's a maybe and I didn't think of that my situation is a little different you know, I was actually cultivating so my kids were like.

00:40:50.580 --> 00:40:59.970 Jonny Tsunami: what's on that farm but it says a lot to people that have now entered into the industry that are doing what you're doing getting in that space so.

00:41:00.450 --> 00:41:12.090 Jonny Tsunami: You can still talk to your kids about it and you're an ancillary business that doesn't deal directly with the plan itself but is nonetheless extremely valuable.

00:41:12.870 --> 00:41:21.900 Jonny Tsunami: Moving forward even now more so with regulations coming out and with the Federal Government looking to line up to say it's probably going to be federally legal.

00:41:22.920 --> 00:41:37.260 Becky Postar: Right, and I think one thing to that you know you and I hadn't really talked about before, but one of the biggest obstacles banks are experiencing even the ones that bank thc clients is him.

00:41:38.310 --> 00:41:51.930 Becky Postar: The biggest issue with him and I mean have experiences banking issues, just like a thc client, because even though hemp is considered federally legal, it is still a high risk customer.

00:41:52.530 --> 00:42:00.270 Becky Postar: And unfortunately, most of the him businesses are not on track and trace so they're even harder to monitor from a banking perspective.

00:42:00.570 --> 00:42:10.710 Becky Postar: it's even harder to prove to a regulator that they're not money laundering, because they don't have that track and trace seed to sale and not all of them use it or have to use it so.

00:42:11.940 --> 00:42:27.990 Becky Postar: hemp is still experiencing huge bank issues, banking and a lot of people don't realize that there they get kicked out, often because they don't think about it they're like i'm going to open up a banking relationship, and then a bank is like what you're selling CBD you're out of here.

00:42:29.460 --> 00:42:38.790 Jonny Tsunami: Now okay so let's say obviously people in your community that you're friends with they know what you're doing Have you ever had a moment of like.

00:42:39.120 --> 00:42:47.310 Jonny Tsunami: I get to be like listen what i'm doing is what i'm doing and I believe in what i'm doing and there's nothing wrong with it, or have you had a smoother experience.

00:42:47.880 --> 00:42:48.660 Becky Postar: You know.

00:42:50.340 --> 00:42:55.560 Becky Postar: i'm at the age in my life, where I surround myself with people that i've known for.

00:42:56.280 --> 00:43:09.870 Becky Postar: 10 1520 years, so I don't get that my inner circle and anyone that does push back is man I don't even waste my time with trying to explain it you either get it, or you don't if you don't get it, you know it's like that the same you can't reason with.

00:43:11.640 --> 00:43:21.480 Becky Postar: I don't want to use I don't want to be derogatory towards people who don't who haven't educated themselves, yet, but it to that point to when I first started in this industry.

00:43:22.080 --> 00:43:30.900 Becky Postar: But I first you know started clicking and learning and reading I think there's two things that really completely baffled me about the cannabis.

00:43:31.620 --> 00:43:49.410 Becky Postar: legalization and the industry as a whole is, first, the human body has the endocannabinoid system, and you have CB reset yeah the receptors in your brain and on almost every organ and we are designed to create our own CBD and.

00:43:51.540 --> 00:44:03.810 Becky Postar: help with the balance within our body, and the fact that our physicians are not taught about this system when going to Medical School is just such a weird question mark to me like.

00:44:04.290 --> 00:44:16.350 Becky Postar: Even though cannabis may be a schedule one drug, why are physicians not even allowed to learn about the endocannabinoid system like that is mind boggling OK so number two The other thing that i've discovered that I just can't wrap my mind around is.

00:44:16.770 --> 00:44:29.910 Becky Postar: Within the exact within the definition, I did a linkedin post about this just this week within the definition of a schedule one controlled substance, it says that it cannot have it does not have.

00:44:32.070 --> 00:44:32.970 Becky Postar: Medical.

00:44:34.080 --> 00:44:35.220 Becky Postar: A medical use.

00:44:36.390 --> 00:44:47.070 Becky Postar: I forget the exact wording, but it's about medical use, however, the majority of the states within our United States are actually prescribing a many doctors are actually prescribing this medicine.

00:44:47.400 --> 00:44:58.140 Becky Postar: But yet within the definition of a substance when it has no medical use So those are the two most baffling outrageous things I found in this industry that make no sense to me.

00:44:58.860 --> 00:45:03.480 Jonny Tsunami: Nonetheless, still pushing forward and still doing amazing things so we're going to take a little break.

00:45:03.900 --> 00:45:07.620 Jonny Tsunami: When we come back, we get to the last section of our show and becky's going to just.

00:45:07.980 --> 00:45:22.350 Jonny Tsunami: Give us the the message the opportunity that she has to say to people that regulation is something that you need to look at if you're going to be in the cannabis world so we'll take a little break i'm Johnny tsunami here with becky, and this is planet pato low low talk radio dot nyc.

00:47:53.190 --> 00:47:59.100 Jonny Tsunami: Alright, everyone i'm back this is Johnny tsunami here on planet taco lolo less taboo.

00:48:00.330 --> 00:48:08.940 Jonny Tsunami: lovely guest becky poster director of product and business development for hd CS Inc becky, thank you for being on the show today.

00:48:09.750 --> 00:48:11.700 Becky Postar: Thank you for having me so fun.

00:48:12.150 --> 00:48:23.550 Jonny Tsunami: I love it, I think that it's important to see that there are serious people in every space within the cannabis, industry and banking and regulation is one of them, so.

00:48:24.000 --> 00:48:37.590 Jonny Tsunami: I kind of want to get to the last part why I think it's important for the audience today to learn that bankers, are a necessity for any business, including Canada, so why do cannabis businesses need someone like you to conduct their everyday business.

00:48:40.020 --> 00:48:40.440 Becky Postar: Oh.

00:48:41.700 --> 00:48:54.630 Becky Postar: that's a really good question and there's several reasons, but I think the main thing that I can do for a cannabis industry is allow them an open banking relationship.

00:48:55.230 --> 00:49:02.820 Becky Postar: And another thing that I mentioned, with the same banking act, but one thing that another thing that makes my company different is that.

00:49:03.720 --> 00:49:21.510 Becky Postar: We have a history as lenders, so we can definitely advise banks on how to safely blend to the cannabis industry so that has been one of my proudest things that can do for the industry is to offer those lower interest loans and with the bank.

00:49:22.530 --> 00:49:30.660 Jonny Tsunami: And I think you got more than that, I know I know you have a list you go on about this there's more than one reason there that's the that's the big one, but what else you got.

00:49:32.130 --> 00:49:34.920 Becky Postar: Oh um you know.

00:49:36.000 --> 00:49:37.650 Becky Postar: With with what I could you know.

00:49:38.730 --> 00:49:44.460 Becky Postar: With like how we met with in linkedin with all of my relationships with my.

00:49:45.090 --> 00:49:55.650 Becky Postar: My friends in the cannabis industry is I can refer you to the bank within your area that actually lens and whether they were a customer of mine or not my goal is to know who not lens but who is.

00:49:56.040 --> 00:50:11.940 Becky Postar: Banking the industry either quietly or openly and no matter what state it is, I want to identify those so when someone calls me up and says hey i'm having a problem getting a bank, whether they're a customer of mine or not I can, I can tell you a bank in your area that's banking beautiful.

00:50:12.030 --> 00:50:16.890 Jonny Tsunami: Why is it essential for the banking industry to come on board with the cannabis revolution.

00:50:19.710 --> 00:50:32.700 Becky Postar: Well, I think that, fundamentally, banking, whether it's a fdic bank or credit union, especially credit unions you're designed typically.

00:50:33.180 --> 00:50:52.410 Becky Postar: Their within their motto or their their company statement is about serving the Community that they are in well if you're in a community that has cannabis legal cannabis, how are you serving your Community if you're not serving your all of your businesses, so I think.

00:50:53.610 --> 00:50:59.700 Becky Postar: that's another part of social equity that's so important today is literally serving your community.

00:51:00.720 --> 00:51:07.890 Jonny Tsunami: And why is regulation in this necessary component for the cannabis world we really talked a lot about that.

00:51:08.250 --> 00:51:17.160 Becky Postar: yeah regulation is huge and it's unnecessary burden, I think you and I agree, like regulation can be a burden but it's so necessary one thing I.

00:51:17.550 --> 00:51:26.760 Becky Postar: thought about after we last spoke was I remember in not that I was i'm not this old, but during alcohol prohibition and.

00:51:27.240 --> 00:51:38.610 Becky Postar: The bootleg stuff that you bought could kill you, you know, there was there was one that went around for years, where there was an ingredient that actually cause paralysis, so the.

00:51:39.510 --> 00:51:46.500 Becky Postar: Regulation can be good and make you what you're putting in your body is is safe someone's looked at it and said it's safe.

00:51:46.890 --> 00:51:51.810 Becky Postar: And then another thing that we also talked about is you know a lot of things are regulated.

00:51:52.650 --> 00:52:01.140 Becky Postar: And one thing like, as I said, my home that I love this regulated is you know engineering structural engineering, making sure that our homes are safe, are.

00:52:01.560 --> 00:52:12.300 Becky Postar: You know when you're driving under an overpass either over it, or on it, you know it's going to be there when you're when you're driving it so those those kinds of regulations, I find comforting so.

00:52:12.660 --> 00:52:18.570 Becky Postar: Even though it can be a burden the point of it is for ultimately for safety and.

00:52:19.170 --> 00:52:32.550 Becky Postar: You know, taxes come with that, because the people that are regulating and enforcing do have to make it page and do that, to make a paycheck so we have to pay taxes for that and so it's um it's a necessary evil.

00:52:33.870 --> 00:52:40.680 Jonny Tsunami: And, and it when you think about it it's it's one of those things that we have for the cannabis plant itself to.

00:52:41.430 --> 00:52:51.390 Jonny Tsunami: It can be grown the wrong way they're starting to find doctors, you were talking about before research I believe it's called cannabinoid hyper My thesis which is.

00:52:52.320 --> 00:53:06.420 Jonny Tsunami: Something that's could potentially affect the esophageal area, as well as the digestive tract and I don't know if that's necessarily connect to the plant or maybe perhaps prop improper regulation and maybe those plants were contaminated.

00:53:08.190 --> 00:53:09.780 Jonny Tsunami: cultivated so.

00:53:10.830 --> 00:53:16.830 Becky Postar: And, and as an American especially here at where I live in West Texas there's a lot of agriculture and.

00:53:18.480 --> 00:53:28.710 Becky Postar: I would love to see other agriculture's being as maybe not as extreme but as regulated as the cannabis and hemp industries, because the fact that.

00:53:29.610 --> 00:53:38.940 Becky Postar: they're not allowed to use certain pesticides, I mean that's that's good for us, who are drinking the tap water like knowing what's going into the ground to treat that and prevent that and.

00:53:39.810 --> 00:53:46.620 Becky Postar: You know the organics that go behind that if you're if you're claiming to be an organic cannabis you've got to really prove that and.

00:53:46.920 --> 00:53:58.980 Becky Postar: it's not that strict when it comes to if i'm buying organic lettuce from from the shelf in the grocery store and it's you know I really feel comfortable when i'm buying an organic cannabis product that it's actually organic.

00:53:59.310 --> 00:54:07.740 Becky Postar: You know, so I wouldn't mind seeing more restrictions on pesticides outside of the cannabis, industry and other things, and why aren't we.

00:54:08.400 --> 00:54:12.180 Jonny Tsunami: And when you bring it back to regulation within the finance world.

00:54:13.230 --> 00:54:27.750 Jonny Tsunami: yeah it might be painful in the beginning, I can't see any client being happy that they can't make deductions, but at the end of the day, you would assume or you would at least hope that that will shift once it goes federally legal.

00:54:28.140 --> 00:54:40.950 Becky Postar: Yes, that will definitely ship once it's federally legal you don't have to find you will not have to file that to add, but once it goes federally legal you'll probably also be paying some state taxes, along with federal taxes so.

00:54:43.530 --> 00:54:45.420 Becky Postar: I don't know how much.

00:54:46.620 --> 00:54:57.660 Becky Postar: How much room and additional deductions that this this industry is going to get I feel like you get you'll get rid of one expense and then another one might get layered on.

00:54:58.980 --> 00:54:59.400 Becky Postar: Whether.

00:55:00.030 --> 00:55:09.750 Jonny Tsunami: They should have someone like you guiding them through the process so that no matter what, as it changes, you will be there to help them to every change.

00:55:10.050 --> 00:55:18.540 Becky Postar: I mean that's the thing with you know I do for banking like as laws are changing and as competition, changing you know our ever are ever going focus will be.

00:55:18.810 --> 00:55:32.160 Becky Postar: How to price, the industry correctly, so that you're always there and you're doing it fairly definitely and I hope that people that are advising other people within the industry will be doing the same thing as well.

00:55:32.730 --> 00:55:35.400 Jonny Tsunami: So here's a fun question I like to ask to.

00:55:36.870 --> 00:55:38.940 Jonny Tsunami: what's your feelings when do you think it will go federal.

00:55:40.230 --> 00:55:40.530 Jonny Tsunami: account.

00:55:41.580 --> 00:55:42.570 Becky Postar: Definitely not this year.

00:55:42.870 --> 00:55:44.550 Becky Postar: I can tell you right now.

00:55:44.820 --> 00:55:48.480 Becky Postar: I mean, I think everyone will be disappointed with that simple question.

00:55:51.240 --> 00:56:00.150 Becky Postar: I think, five years might be a little aggressive seven years, I can be really comfortable with if it's not done in 10 years I might consider definitely moving.

00:56:02.700 --> 00:56:09.390 Jonny Tsunami: And, and when you think about it, what was the first medical state approved programs in 1996.

00:56:11.580 --> 00:56:15.030 Becky Postar: Well, you know is talking about California when they when they first.

00:56:15.180 --> 00:56:24.030 Jonny Tsunami: Actually, I believe it was made and then California after, but I believe it was 1996 was the first year when the first medical programs.

00:56:24.330 --> 00:56:33.900 Becky Postar: Well what's interesting little little barely ever known fact is the state of new Mexico started a very minimal medical marijuana program in the 70s.

00:56:35.190 --> 00:56:37.560 Becky Postar: No one talks about that new Mexico.

00:56:39.210 --> 00:56:39.480 Becky Postar: yeah.

00:56:40.530 --> 00:56:41.010 Jonny Tsunami: they're just.

00:56:41.580 --> 00:56:53.670 Becky Postar: odd to send you that that link to that one because I was like what the I had no idea, but it was very simple and that's why it doesn't make the map, because, and I don't want to take away from the people that really did the heavy lifting and the.

00:56:55.530 --> 00:57:09.000 Becky Postar: For people suffering with AIDS like that was a huge game changer game changer so I definitely don't want to take that away from that, but I do know new Mexico started dabbling around with research and medical marijuana in the 70s.

00:57:09.690 --> 00:57:13.320 Jonny Tsunami: yeah and and again research very important, so now here's another phone question.

00:57:13.620 --> 00:57:16.050 Jonny Tsunami: Is your favorite celebrity or icon.

00:57:16.800 --> 00:57:32.160 Becky Postar: Okay, so this is a hard question, but I just recently watched a documentary on netflix called this changes everything if you haven't watched it so good and and so so shonda rhimes is always been someone I admired but she's my number one right now.

00:57:34.140 --> 00:57:37.380 Jonny Tsunami: Okay, and, what is your favorite movie and.

00:57:37.410 --> 00:57:39.300 Becky Postar: Okay, so.

00:57:40.380 --> 00:57:50.160 Becky Postar: I have several favorite movies, but this movie is called rear window is my first favorite movie I ever had when I was a little kid and the old hitchcock movie with.

00:57:50.790 --> 00:58:01.170 Becky Postar: grace Kelly and Jimmy Stewart and I loved it because it was so suspenseful it like kept me Barry it like as a small child I was like sucked in from the second started all the way to the end.

00:58:01.560 --> 00:58:08.220 Becky Postar: But to see someone like grace Kelly be glamorous and i'm confident was something that was like jaw dropping for me.

00:58:09.780 --> 00:58:16.230 Jonny Tsunami: I like i'm a big hitchcock fan I would probably say my favorite out of his his birds was that.

00:58:16.350 --> 00:58:17.730 Becky Postar: Oh, that is.

00:58:17.790 --> 00:58:21.030 Jonny Tsunami: so good, yes, it was pretty creepy it was pretty cool.

00:58:21.660 --> 00:58:26.820 Becky Postar: Why is that creepy like to me i'm jaws is less scary than birds.

00:58:27.900 --> 00:58:32.430 Jonny Tsunami: Animals freaked me out if they're going to attack me, in any case, but that's why I deal with the plan so.

00:58:33.840 --> 00:58:37.800 Jonny Tsunami: becky I really want to say thank you so much for being on today's show.

00:58:38.520 --> 00:58:42.840 Jonny Tsunami: An absolute pleasure, hopefully we can get you back on a later date, we will keep you posted.

00:58:43.080 --> 00:58:55.140 Jonny Tsunami: We have all kinds of information, where you could reach out to becky post out or linkedin as well as their website and if there's any questions that you have, as far as being a bank and needing help and assistance in that becky is your girl so.

00:58:55.560 --> 00:59:05.850 Jonny Tsunami: Thank you, everybody on Johnny tsunami here with becky pollstar This is bad Poc lolo we're flying out of here have a great evening talk radio dot n y C.