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#2224219 - 10/23/19 03:24 PM CBD Oil/Hemp
Lilly C Offline
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Lilly C
Joined: Dec 2004
Posts: 209
Sunny Florida
My CEO was talking with someone from the Fed recently and was told that we could be banking CBD Oil and Hemp businesses and that bankers are too cautious. I'm hoping other Florida Bankers can provide some guidance here. I've check FDA/FinCEN and FBA and see no guidance or new rules out there on this. I know anything we decide as a bank will require a risk assessment. Everyone seems to be silent on this topic making it a real challenge.

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#2224221 - 10/23/19 03:29 PM Re: CBD Oil/Hemp Lilly C
Adam Witmer Online
Power Poster
Joined: Sep 2010
Posts: 2,631
Have you seen the August 2019 guidance from the NCUA? That is all I have seen from the Federal regulators and it talks about working with hemp businesses that are operating "lawfully."

https://www.ncua.gov/regulation-sup...s-other-guidance/serving-hemp-businesses
_________________________
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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#2225501 - 11/12/19 10:52 PM Re: CBD Oil/Hemp Adam Witmer
CB#3 Offline
Power Poster
CB#3
Joined: Nov 2004
Posts: 2,531
Anywhere I want to be
Establishment of a Domestic Hemp Production Program

Have you read this yet? It's the Interim final rules.

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