I know that in WI it's legal to distribute and possess CBD oils with a certification. But it's still illegal under federal law, so how to we proceed with businesses that want to open accounts? We have had about 4-5 new businesses open in the past six months related to CBD oil products. At some point, I just know that one or more of them are going to come to the bank and want to open an account.

What kind of due diligence should I be doing prior to opening the account and then what about on-going due diligence? Should SARs be filed on a regular basis?

Any feedback/resources, etc. would be helpful! Thanks!

Research on Datcp and fda websites and Wisconsin bankers website. The regulators at our last conference were waiting on guidance from fincen. If you can show cbd came from legally processed hemp, then legal in Wisconsin according to wi attorney general. Gray area yet.

If there are any banks in WI that are accepting MRB deposits/loans, can you please PM me so we can discuss offline? Thanks!

If anyone is banking hemp businesses, can you please PM me? Thanks!