Four federal agencies in conjunction with the state bank regulators issued a joint statement clarifying the relevant requirements for banks providing services to hemp-related businesses.
The statement affects bank customers engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations.
Read on for details from the statement issued by the Federal Reserve Board of Governors, the Federal Deposit Insurance Corp., Financial Crimes Enforcement Network, the Office of the Comptroller of the Currency and the Conference of State Bank Supervisors.
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