Better regulator data transparency helps banks cut compliance costs and serve the cannabis industry, Steven Kemmerling, founder and chief executive of CRB Monitor, said as a guest on the latest episode of The Hybrid Podcast.
The Hybrid Podcast is hosted by two former state cannabis regulators. Erik Gundersen, founder of ERG Strategies, was the executive director of Maine’s Office of Cannabis Policy. Attorney Shawn Collins, co-founder of THC Group, launched the Massachusetts Cannabis Control Commission as its executive director.
They discussed their efforts, and challenges, in making business data available to the public in their states in the June 3 episode, “Clearing the Fog — Cannabis Transparency and Financial Access.”
“Transparency isn’t just a buzz word,” said Erik. “It can make the whole thing work.”
Shawn said when a new agency is building its credibility, sharing how it makes decisions “is critical to the endeavor.” However, the question becomes, “How much transparency is too much?”
CRB Monitor’s mission is to bring clarity and trust to the cannabis business ecosystem through accurate, actionable data. We regularly gather public and nonpublic data to build robust cannabis business profiles that help banks and credit unions know their customer and follow FinCEN banking regulations.
“Basically, what we’re helping banks answer is a yes or no question: Is this a state-sanctioned marijuana business? Yes or no,” Steven said on the podcast.
Steven discussed CRB Monitor’s latest Cannabis Regulatory Data: Transparency Scorecard, which measures how openly state agencies share business and licensing information. In its second year, the 2025 Transparency Scorecard grades 50 agencies in U.S. states, territories and the District of Columbia where cannabis is legal and regulated. He said companies are graded on three main criteria: availability of business information, licensing information and ownership information. The scorecard also indicates whether disciplinary actions are available.
While some regulator scores dropped, “Generally, in the past 12 months, things have gotten better. That is good,” Kemmerling said.
Hear more about CRB Monitor’s 2025 Cannabis Regulatory Data: Transparency Scorecard and how greater transparency leads to improved cannabis banking services on The Hybrid Podcast. Listen on YouTube and Spotify.
Download the 2025 Transparency Scorecard to find out which states are best at sharing cannabis business information.