NCP

Nationwide Consulting Professionals (NCP) is a financial company based in Downtown Los Angeles, California that facilitates banking and financial services for Cannabis, Medical Marijuana & Hemp industries Professionals. 

Sal Solo: CEO of NCP a former Anti Money Laundering Investigator turned Cannabis Banking Consultant, U.S Army Veteran, California Native Son Born and Raised. We have the frontline experience, knowledge and understanding of the complex onboarding banking application process for Cannabis & Hemp Bank Accounts. The constant changing guidelines with local, State and Federal laws are assessed and considered in order to help our clients identify & achieve their goals. We offer a comprehensive strategy of financial products and services to help develop a sound, long-term financial plan. We are dedicated to prudent financial management, high quality products, and impeccable service.

The clash between State and Federal Law threatens to cripple legal California cannabis businesses before they even get up and running. One of the main threats to legalization is that banks generally will not open accounts for cannabis businesses out of fear they will be penalized under federal law. Financial Institutions have sited these Federal regulations, even with California’s AB-1525 Cannabis: financial institutions. Approved by Governor September 29, 2020. 

Filed with Secretary of State September 29, 2020. An act to add Chapter 24 (commencing with Section 26260) to Division 10 of the Business and Professions Code, relating to cannabis. This bill would provide that an entity, as defined, that receives deposits, extends credit, conducts fund transfers, transports cash or financial instruments, or provides other financial services, including public accounting, as provided, does not commit a crime under any California law solely by virtue of the fact that the person receiving the benefit of any of those services engages in commercial cannabis activity as a licensee.

Lack of access to banking services that are taken for granted by other legal businesses—opening accounts, writing checks, accepting ACH credits, transferring money—forces cannabis businesses to deal in large amounts of cash, which makes them targets for assaults and puts the general public in danger. 

Security and procedural concerns about handling massive amounts of cash also create a nightmare for State and local government revenue-collecting agencies. In addition, the inability of cannabis operations to get banking services means that many of them may remain in the underground economy and not become transparent, regulated, tax-paying businesses, as California voters intended.