Federal Reserve Clarifies Banking and Hemp relationship

December 04, 2019 business , Business Insight , Regulation

The Federal Reserve Board released clarification regarding banking services for hemp-related businesses.

” The statement emphasizes that banks are no longer required to file suspicious activity reports (SAR) for customers solely because they are engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations. “

Read more below:

https://www.federalreserve.gov/newsevents/pressreleases/bcreg20191203a.htm

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