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Locked Out: SBA’s New Lending Policy Targets Hemp and Marijuana-Adjacent Businesses

Canna Law Blog

The updated policy, effective June 1, has far-reaching consequences for small businesses operating in compliance with state law (and for some, in compliance with federal law) – especially those selling hemp-derived foods, supplements, and cosmetics (collectively, Consumable Hemp Products). This isnt new.

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Federal Agencies Provide New Guidance for Hemp Banking

Canna Law Blog

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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Weekly Legislative Roundup 4/5/19

NORML

Governor Janet Mills (D) of Maine signed legislation into law to allow the production and retail sale of hemp-derived CBD products. 333, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. FL resident?

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Article: 5 cannabis banking options — plus 4 alternatives

Cannabis Law Report

Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Compare 5 cannabis-friendly banks and credit unions.

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Weekly Legislative Roundup 6/14/19

NORML

Governor Kay Ivey (R) of Alabama signed legislation into law to create a commission to study medical CBD. Update : SB 51 is scheduled for a hearing in the Assembly Banking And Finance Committee on 6/24/19. Click here to email your lawmakers in support of banking access. CA resident? New Hampshire. North Carolina. Update : S.

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Weekly Legislative Roundup 3/29

NORML

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. It now awaits consideration by the U.S.

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What Do Banks Require for CBD Websites?

Cannabis Law Report

Cannabidiol (CBD) products derived from industrial hemp exist in a unique market here in the U.S. Thanks to the passage of the 2018 Farm Bill , CBD products that meet certain federal criteria are no longer part of the U.S. As a result, banks often require a website that sells CBD to meet several criteria to satisfy their guidelines.