Complete Story


RLR Management Consulting, Inc. and HDCS, Inc.

To Provide Comprehensive Solutions for Banking Cannabis


 A banker led and managed solution for banking the Cannabis industry.”

Reno, Nevada and Windsor, Colorado, November 18, 2019- RLR Management Consulting, Inc. and HDCS, Inc. (Higher-Risk Deposit Compliance Solutions) announced a joint agreement to provide comprehensive compliance and monitoring solutions to banks that are currently engaging or plan to engage in Cannabis banking.

RLR Management Consulting, Inc. is the longest tenured privately held community bank consulting practice in the nation.  Since 1988, the firm has been providing subject matter expertise and strategic advice in its core areas of Technology, Regulatory/Compliance, Operations and M &A.

“RLR Management Consulting has been at the forefront of Cannabis Banking activities over the past year,” said Mitch Razook, President and COO.  “We have paid acute attention to the changing landscape in the industry and have written several articles regarding the activities that we believe will transform our industry. While we have had many of our bank clients inquire about Cannabis banking because of the burgeoning industry and the significant economic potential for the banks, we know that comprehensive solutions are required to ensure our clients are operating at the forefront of regulatory compliance.”

HDCS, Inc., which stands for Higher-Risk Deposit Compliance Solutions, was formed to address the specific needs of higher-risk depositors for banks.  “As a long-time Chief Executive Officer of community banks, I know that many community bank C-Suites are having the debate as to whether they have the capacity to safely bank the Cannabis industry,” said Andy Montgomery, CEO and Founder of HDCS.  “The return is there for the banks, but they have to ask themselves as to whether they have the internal resources to manage the risk and avoid tripping over some very critical regulations.  We believe that through our partnership with RLR Management, which has a sterling relationship with both banks and regulators, we are in an optimal position to provide banker-led solutions, guidance and resources to banks that are providing services to the Cannabis industry.”

RLR and HDCS are currently building out the core content and best practices that banks and the Cannabis Related Businesses will need in order to comply with regulatory guidance that has yet to be written.  “Together, our firms bring more than 100 years of banking and regulatory experience to our Cannabis Compliance Program. This makes us uniquely suited to provide ‘Best Practices’ for Anti-Money Laundering, Bank Secrecy Act, and USA Patriot Act programs that anticipate the evolving standards for Cannabis banking. Not only will we provide vital support to financial institutions that bank cannabis, we believe we can play a significant role in developing and informing the standards for the industry.”

RLR and HDCS are targeting the first quarter of 2020 to begin to roll out their comprehensive program to banks.  The venture intends on focusing on the banks as its first priority and then playing a heavy role in soliciting and vetting Cannabis related businesses that are seeking a banking solution for its participant banks.

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Mitch Razook, President and COO
RLR Management Consulting, Inc.
Andrew Montgomery, CEO
HDCS, Inc.



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