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Posted On: 07/01/2020 2:40:59 PM
Post# of 75037
hemproundtable
Headway for #hemp banking!
Yesterday, the Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, released updated guidance for banks and credit unions that service hemp businesses.
The clarification is intended to enhance the availability of financial services for, and the financial transparency of, hemp-related businesses in compliance with federal law.
Thanks to all our Hemp Supporters who've advocated tirelessly to secure relief for hemp banking. While this is a positive step on behalf of the industry, we still have work to do in securing the SAFE Banking Act, which would formally ensure all legal hemp businesses have access to the same financial services as any other U.S. company.
Headway for #hemp banking!
Yesterday, the Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, released updated guidance for banks and credit unions that service hemp businesses.
The clarification is intended to enhance the availability of financial services for, and the financial transparency of, hemp-related businesses in compliance with federal law.
Thanks to all our Hemp Supporters who've advocated tirelessly to secure relief for hemp banking. While this is a positive step on behalf of the industry, we still have work to do in securing the SAFE Banking Act, which would formally ensure all legal hemp businesses have access to the same financial services as any other U.S. company.
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