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Posted On: 04/08/2019 11:12:34 AM
Post# of 86310
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UH OH this is some HUUUUUUUUUUUUUGE NEWS right here!
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Quote:
HEMP LENDING: The U.S. Farm Credit Administration (FCA) plans to issue guidance to Farm Credit System member institutions as soon as this week about lending to hemp farmers.
The agency, which regulates a network of financial institutions that lend money to farmers and ranchers, acknowledges there is “extreme interest” in hemp loans.
But FCA Chair Dallas Tonsager has warned lenders to make sure they understand the market.
The FCA was among four federal banking agencies to receive memos last week from U.S. Sens. Mitch McConnell, a Kentucky Republican, and Ron Wyden, an Oregon Democrat, to open financial services to the hemp industry because the plant is no longer a controlled substance.
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