NCUA is Excited for Hemp Banking Last year National Credit Union Administration (NCUA) Chairman, Rodney Hood, encouraged credit unions to thoughtfully consider serving hemp-related businesses within their field of membership[1]. Now in 2020, Chairman Hood sees hemp as an exciting new opportunity for rural communities![2] This month NCUA released additional guidance for credit unions considering…

Don’t Miss Our 4/20 Reddit AMA It is one of our favorite days of the year, 4/20, and once again, we are celebrating by hosting an Ask Me Anything (AMA) on Reddit. This is an opportunity for us to interact directly with the public to answer any, and we mean any, burning questions you have…

Update on Hemp Banking On December 3, 2019, the Federal Deposit Insurance Corporation (FDIC) issued a letter to financial institutions highlighting the interagency guidance on providing banking services to customers engaged in hemp production. The letter provided the following: The Agriculture Improvement Act of 2018 (2018 Farm Bill) removed hemp as a Schedule 1 controlled…

SAFE Banking Act A Win for Cannabis Banking The relationship between state and federal government in the U.S. has been strained from the beginning. The most obvious example from the last decade is the Cannabis industry. While the 2018 Farm Bill, spearheaded by Kentucky Senator Mitch McConnel, brought hemp (Cannabis products containing less than 0.3%…

The text of this article was originally published in the Argent Communications Group’s Cannabis Law and Regulation Reporter. It is reprinted here with permission. Hemp is Legal, Why is Banking Still Hard? THE AGRICULTURE IMPROVEMENT ACT OF 2018 AND ITS IMPACT ON THE STATE OF ‘HEMP BANKING’  In December 2019, the federal Agriculture Improvement Act…

The text of this article was originally published in the Argent Communications Group’s Cannabis Law and Regulation Reporter. It is reprinted here with permission. The Complex Policies of Oregon Recreational Cannabis Financial Interests Rules The OLCC’s Responsibility to Oversee Financial Interests in its Licensees One of the primary responsibilities of the Oregon Liquor Control Commission’s…

This article first appeared in The Hill. Washington had a turning point in the national debate over banking and cannabis this month. For the first time, Congress held a hearing on the issue, with lawmakers and witnesses outlining the harm resulting from the growing gap between state and federal laws. The House financial services hearing…