Articles are penned by Reinhart Boerner Van Deuren s.c., Wilson Elser Moskowitz Edelman & Dicker LLP, Duane Morris LLP, Cadwalader, Wickersham & Taft LLP & Miller & Martin.
United States: Bank On Hemp: Federal Banking Regulators Loosen The Reins
Reinhart Boerner Van Deuren s.c.
On December 3, 2019, four federal agencies, in conjunction with state bank regulators, issued a statement clarifying the legal status of hemp and banks’ related requirements under …
Miller & Martin
On December 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (“FDIC”), the Financial Crimes Enforcement Network…
United States: Feds Issue Badly Needed Hemp And CBD Banking Guidance
Wilson Elser Moskowitz Edelman & Dicker LLP
New guidance to banks that wish to provide financial services to hemp-related businesses was released on December 3, 2019.
United States: Agencies Clarify SAR Obligations For Hemp Transactions
Cadwalader, Wickersham & Taft LLP
The Federal Reserve Board, the FDIC, FinCEN, the OCC and the Conference of State Bank Supervisors (collectively, the “agencies”) clarified the legal status of hemp and Suspicious Activity Report
United States: Federal Banking Regulators Take Steps To Allow Financial Services For Hemp-Related Businesses
Duane Morris LLP
Banking has been an impediment for the cannabis industry because the Bank Secrecy Act of 1970 (BSA) and related regulations―which seek to prevent money laundering and other financial crimes…