Federal Administration Greenlights Hemp Banking

The National Credit Union Administration issued guidance to credit unions on Monday, clearing another banking obstacle for hemp producers.  “Lawful hemp businesses provide exciting new opportunities for rural communities,” NCUA Chairman Rodney Hood said in a press release. “I believe today’s interim guidance keeps with the mission of the nation’s cooperative credit system to serve people who have been overlooked and underserved.”

“Many credit unions have a long and successful history of providing services to the agriculture sector,” he said. “My expectation is that credit unions will thoughtfully consider whether they are able to safely and properly serve lawfully operating hemp-related businesses within their fields of membership.”

This is by no means a guarantee that producers will be served, but offers important administrative support for working with customers with otherwise acceptable risk profiles.  Read more here:

https://www.marijuanamoment.net/credit-unions-can-bank-hemp-businesses-federal-agency-announces/?mc_cid=5e99efc74a&mc_eid=2d55c2397a&utm_source=Hemp+Business+Newsletter&utm_campaign=b2f64f1ca4-EMAIL_CAMPAIGN_2018_07_27_06_35_COPY_01&utm_medium=email&utm_term=0_c50b1e2d71-b2f64f1ca4-120191745&mc_cid=b2f64f1ca4&mc_eid=afae0af659

US Navy: Just Says No…

The US Navy issued a warning to Sailors: Do not use CBD.  Current drug screens will return a positive result when using broad spectrum cannabinoid products.  The Navy is taking a clear position on this issue, as it will no doubt encounter this issue with increased frequency as CBD use grows.  Read more here:

https://hemptoday.net/navy-cbd-ban/