Anyone comfortable sharing where they're at on banking CBD? I tried to talk with a store owner down the street and they were reluctant to discuss any details of their banking with me (I'm gathering that everyone around here is still turning these business away). We're still in the planning phase because we're still unclear on a few pieces.
- We'll require extensive documentation up front (what products do they sell, where do they get it, proof of lab testing for those products, no claims of unsubstantiated health benefits, etc) and then regular updating.
- We'll have to review with our various vendors (Visa for debit cards, merchant services, insurance, etc to determine if there are any issues with providing services.
- Everything has to be imported from another state which is one of the kinks for FDA if they're used CBD as a dietary supplement. Hemp oil, which is distinctly different from CBD oil, is fine to get from another state. However, what are the implications of a store selling CBD droppers to put in your water? Obviously they didn't get it from Texas. FDA has a problem with it but the Texas DSHS indicates that it's ok as it's obtained from a state following a USDA approved plan.
- As long as they're under the 0.3% THC level (and no other shady business is going on), there are no SAR implications at this point.