2014 Banking Compliance Cultivation 
Canna Law Blog
NOVEMBER 16, 2023
We are helping build out another cannabis banking program here in Oregon. My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to 2014. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking.
Canna Law Blog
DECEMBER 5, 2019
The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.
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Canna Law Blog
JULY 7, 2020
The FinCEN Guidance centers on due diligence requirements as related to the Bank Secrecy Act (BSA). The purpose of that statement was to to help financial institutions deal with BSA and anti-money laundering (AML) compliance in light of the fact that hemp is no longer a Schedule I controlled substance under federal law.
Cannabis Law Report
DECEMBER 14, 2019
On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. That hemp remains subject to the requirements of the 2014 Farm Bill.
Medicinal Genomics
NOVEMBER 5, 2019
While several lawmakers and industry stakeholders celebrated the announcement , not everyone on the cultivation side is so positive. The language in the 2014 Farm Bill classified hemp as cannabis with less than 0.3% Last week the USDA issued its much-anticipated interim final rule for hemp manufacturing. New Sampling Guidelines.
Cannabis Law Report
SEPTEMBER 12, 2021
Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry. Here’s his full presentation. September 2021. NCUA Board Member Rodney E. Board Member Rodney E.
Canna Law Blog
AUGUST 23, 2019
Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts. That is changing.
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