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…

With the Passage of the 2018 Farm Bill, states are scrambling to update their Hemp Pilot Programs and replace them with permanent hemp laws and regulation. Washington State is no exception. On January 16, Senate Bill 5276 (officially titled “Authorizing hemp production in conformance with the agricultural improvement act of 2018”) was introduced. In its…

It’s not often that the entire country mobilizes and gets excited over a crop. But hemp legalization is altogether different. For the first time in generations, hemp cultivation and sales are federally permitted (as long as you have a hemp license) and this change has made quite the splash. With a pen made of hemp,…

On December 11, 2018, a historic moment took place in Washington D.C. For the first time since the early days of the country, lawmakers voted on sweeping changes to hemp production in the United States. With the stroke of a pen made from hemp, Senator Mitch McConnell (R-KY) signed off on the 2018 Farm Bill….