Since hemp products are non-drug related, is this still considered a marijuana-related business for monitoring purposes?

I wouldn't think so.

I was thinking no, but wanted to make sure I wasn't missing anything. Thanks!

Can banks in Kentucky maintain an account for an industrial hemp business association and if so are there any special monitoring of that type of account (EDD)? Does this violate any federal laws for banking such an account? Any help or discussion would be appreciated.

Juby,

You need to do some research in your state. While hemp proponents say that hemp and marijuana are entirely different species, many state legislatures tar them with the same brush. If the cultivation and sale of hemp is illegal in your state, the DOJ and FinCEN guidance will not apply; i.e. you're toast.

Becca1,

Your potential client sounds like an advocacy group, nothing more. If you can verify that, it is of no consequence exactly what it is they are advocating. When they like your bank so much that they start recommending their members to you, then you need to be concerned.

Article from yesterday.

Questions about state laws regarding marijuana related businesses should be posted in state forums.

I attended a mixer for start-up businesses, and one of them had clothing made from industrial hemp. The material felt a lot like raw silk and the marketing pieces touted the many benefits of the fabric:

http://www.earthfriendlygoods.com/index.php?dispatch=pages.view&page_id=13