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Farm Bill Financial Services Industry

Seyfarth Shaw LLP

The Week in Weed: June 2025 #3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, hemp is on the agenda, both in Texas and in Congress. SAFER Banking, less so. And finally, it was so hot...more

Bradley Arant Boult Cummings LLP

Predictions: 2025 to Be a Very Big Year in Cannabis

It’s the first week of January, and you all know what that means in the blogging game: It’s time to make wild predictions about the coming year. As always, making predictions is hard, particularly when they’re about the...more

Ward and Smith, P.A.

Banking on Hemp: Financial Services for a Growing Industry

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The Agriculture Improvement Act of 2018 ("Farm Bill") became law more than two years ago, decriminalizing hemp and its derivatives and opening the door for American farmers, manufacturers and retailers to create and explore...more

Wyrick Robbins Yates & Ponton LLP

The Growing Seeds of the Interaction of the Regulated Banking System and Hemp-related Businesses

On December 3, 2019, the federal bank regulatory agencies[1] and the Financial Crimes Enforcement Network (FinCEN), in consultation with the Conference of State Bank Supervisors, issued a joint guidance (2019 Hemp Guidance)...more

Bradley Arant Boult Cummings LLP

Hemp Banking – FinCEN Issues New Guidance Regarding AML/BSA Obligations

...On June 29, the Financial Crimes Enforcement Network (FinCEN) issued guidance (the “June guidance”) to “address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements” for providing...more

Carlton Fields

Are Bank Regulators "Mellowing Out" on Cannabis?

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Federal bank regulators no longer require banks to submit suspicious activity reports (SARs) for legally authorized hemp business transactions, absent another required circumstance....more

White & Case LLP

Federal Banking Agencies Open a Pathway to the Provision of Banking Services to Hemp-Related Businesses

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On December 3, 2019, in a rare public statement regarding the provision of banking services to cannabis- or hemp-related businesses, the Federal Banking Agencies, including the Board of Governors of the Federal Reserve...more

Morrison & Foerster LLP

Federal Regulators Issue Joint Guidance on Banking Hemp-Related Businesses

According to new guidance released on December 3, 2019, banks are not required to file suspicious activity reports (SARs) on customers solely because they are engaged in the legal growth or cultivation of hemp (“Guidance”)....more

Bradley Arant Boult Cummings LLP

Is the Bank Open? Federal Agencies Clarify Regulatory Requirements for Banking Hemp

On December 3, several federal agencies issued guidance (Guidance) that, by its terms, “provide[s] clarity” regarding “the regulatory requirements under the Bank Secrecy Act (BSA) for banks providing services to hemp-related...more

Ballard Spahr LLP

Banking Regulators Ease SAR Reporting Requirements Applied to Hemp-Related Businesses

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On December 3, 2019, four federal agencies – the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (“FDIC”), the Financial Crimes Enforcement Network (“FinCEN”), and the Office of the...more

Lowndes

Long-Awaited Guidance for Banking Hemp Clients Released

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Since the effective date of the 2018 Farm Bill, banking and the inability to acquire financing have been major impediments for the hemp industry. While demand for hemp continues to grow, banking regulations have still been...more

Seyfarth Shaw LLP

Cosmetics, Hemp, and CBD: Legislative and Regulatory Update

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Seyfarth Synopsis: Through a reintroduced House bill, Congress is taking strides to push for cosmetic regulation reform and, separately, through the SAFE Act, it is seeking to establish a safe harbor for financial...more

Maynard Nexsen

NC Legislative Update: October 2019 #4

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After taking last week off, both chambers returned to Raleigh this week to continue their efforts to wrap up the legislative session. Senate Leader Phil Berger has asserted that the Senate will adjourn on October 31,...more

WilmerHale

House Passes Historic SAFE Banking Act

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The US House of Representatives recently passed the Secure and Fair Enforcement (SAFE) Banking Act, H.R. 1595 (the Act), which, if it becomes law, would have far-reaching implications for financial institutions considering...more

Seyfarth Shaw LLP

National Credit Union Administration Issues Statement About Serving Hemp Businesses

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Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. Citing growth in hemp-related commerce,...more

Carlton Fields

National Credit Union Administration Gives Credit Unions the Green Light to Serve Lawfully Operating Businesses

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On August 20, 2019, the National Credit Union Administration issued a regulatory alert to all federally insured credit unions providing "interim guidance" regarding the service of hemp businesses by credit unions. The alert,...more

Amundsen Davis LLC

Credit Unions Encouraged To Bank Hemp Business

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A regulatory alert (the “Alert”) issued by the National Credit Union Administration (the NCUA) this week makes clear that the NCUA supports banking relationships between its members and lawfully operating hemp-related...more

Ward and Smith, P.A.

Trends from the Industrial Hemp Summit

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This week, we attended the Industrial Hemp Summit in Danville, VA. The quality of the event, the information shared, and the people in attendance were incredible. Although the topics of discussion and educational materials...more

BakerHostetler

The Weekly Hill Update

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HEADLINES - • President Donald Trump today returns from Europe after high-profile meetings with NATO leaders, British government officials and royalty, and Russian president Vladimir Putin....more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 27

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Outlook for This Week in the Nation's Capital - House and Senate Return. Both the House and Senate are back in session this week. The Senate is planning to take a series of judicial nominations as well as a few other...more

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