Yesterday’s Hemp Bulletin commentary emphasized the importance of professional agricultural services that have enabled the hemp sector to normalize.  Professional accounting, legal, and insurance services have also pivoted to accommodate hemp and cannabis operators.  Hemp and cannabis make an attractive marketing segment for many general services companies.  Some local banks and credit unions have done this, but overall, banks are keeping their distance from hemp operators. 

In 2019, financial institutions casually notified many long-time clients that their accounts were being closed.  Elavon, the merchant services provider that is a subsidiary of US Bank Corp, led  the carnage in spring of 2019, giving customers ~6 weeks to find an alternative.  Our understanding of this sudden pivot was that lax oversight and dated risk management policies allowed for a…