/r/HempBanking

Photograph via snooOG

A place to discuss the in and outs of hemp and CBD banking. The industrial hemp and CBD markets are woefully underserved from a banking perspective. This community is dedicated to sharing best practices, policies, and documents with financial institutions considering the space. If you're familiar, think CBANC but only for hemp and CBD.

A place to discuss the in and outs of hemp and CBD banking. The industrial hemp and CBD markets are woefully underserved from a banking perspective. This community is dedicated to sharing best practices, policies, and documents with financial institutions considering the space. If you're familiar, think CBANC but only for hemp and CBD.

/r/HempBanking

305 Subscribers

3

Is PNC CBD friendly?

Just wondering if anyone has experience with PNC bank and Hemp/CBD businesses. Anybody know if they are hemp friendly? Anybody have any accounts or experience with them?

3 Comments
2021/10/29
20:11 UTC

1

Lets Talk $$

Hey folks! Our parent company is having an upcoming webinar this month where you can hear how West Town Bank has used their hemp banking program to positively impact their Financial Statements! Sign up at the link below.

https://lnkd.in/dM8abGHs

https://preview.redd.it/a3a2szefllf71.jpg?width=800&format=pjpg&auto=webp&s=63f0d8d64879ff64f7fe3b3367277ed8a31fa28e

0 Comments
2021/08/05
20:24 UTC

6

Advice on banking in NY

So my business operates out of New York and we're having trouble navigating the financial services portion of our business. We have two separate LLC's: one that operates CBD products and one that operates THC products (only delta 8 until D9 is legal here). Our CBD segment is banking with Bank of America right now (we had filed with inc file and they labeled us as health and wellness so we could open the account) but I had gone into the branch and they told me they don't service any cannabis/hemp related businesses right now, so im trying to find a bank that we wont have any issues with moving forward. CBD banks aren't impossible, but they can be expensive; does anyone here know the most economical solution given this problem?

For the Delta 8 company, we didn't use inc file and we're doing everything in house, but we need to find a bank so we can file to collect sales taxes and to set up our retail licenses. Any solutions people on here would know of for this problem?

I was exploring some fintech services like abaca and square but abaca is crazy expensive and square has its own problems. If there are legacy banks or well known and affordable credit unions, I'd love to hear everyone's take

2 Comments
2021/06/08
13:45 UTC

5

Hemp Friendly Banks in Michigan

Does anyone know the banks that deal with hemp customers in Michigan?

2 Comments
2020/12/22
17:49 UTC

3

CBD friendly banking in GA?

Hi, I have a CBD start-up based in Atlanta, GA and I've been really struggling with finding banking. I had a Chase account and out of nowhere the account was closed. We're none planet touching and purely provide technology services around CBD.

6 Comments
2020/11/29
23:48 UTC

2

USDA approves Indiana’s plan for commercial hemp growing

0 Comments
2020/10/28
13:43 UTC

3

USDA Approves Hemp Plans For Six Additional States And Three Indian Tribes

0 Comments
2020/10/19
20:15 UTC

1

California Governor Approves Changes To Marijuana Banking And Labeling Laws

0 Comments
2020/10/01
13:35 UTC

0 Comments
2020/09/22
13:16 UTC

1

Federal Agency Tells USDA To Keep Hemp Rules Open For Comment Even Longer

0 Comments
2020/09/17
17:29 UTC

2

The U.S. Department of Agriculture (USDA) approved hemp regulatory plans for Utah and the Torres Martinez Desert Cahuilla Indians

0 Comments
2020/09/15
17:48 UTC

1

Here are 10 important considerations for anyone looking to launch a hemp business

Great article written by our good friends at Bradley Law. If you're looking for a good place to start.. this is it!

https://www.jdsupra.com/legalnews/10-legal-considerations-when-starting-a-56450/

2 Comments
2020/09/10
14:15 UTC

4

USDA Reopens Public Comment Period On Hemp Rules Following Intense Industry Pushback

0 Comments
2020/09/08
14:45 UTC

1

"Rep. Denver Riggleman (R-VA) filed the Hemp Opportunity Zone Act. As the title implies, the main component of the legislation clarifies that farmers who cultivate the crop can receive tax benefits if they operate in an area designated as an “opportunity zone” by the Treasury Department."

0 Comments
2020/09/01
13:29 UTC

1 Comment
2020/08/25
14:27 UTC

1

Join VeriLeaf's free August webinar on 8/25 from 1:00 - 2:00 CST, for an in-depth look into "Regulatory Guidance on Cannabis Related Businesses"

Reserve your seat today by registering at the link below!

https://lnkd.in/gmTE9Mm

1 Comment
2020/08/18
18:54 UTC

3

USDA approves hemp plans for Maryland and Lower Sioux tribe. The two new approved plans bring the USDA’s tally of approved state, territory and tribal plans to 55!

0 Comments
2020/08/11
18:42 UTC

1

State Agriculture Officials And Hemp Group Ask Congress And USDA For Pilot Program Extension

0 Comments
2020/08/07
17:08 UTC

2

New FinCEN CDD FAQ out today. Among other things, the FAQ states that FIs are not expected to, or required to, automatically categorize products or customer types listed in government publications as “high risk” . Even within the same risk category, a spectrum of risks may be identifiable and due di

0 Comments
2020/08/03
18:06 UTC

1

Officials in Texas have certified that the code banning the retail sale and distribution of smokable hemp products has been approved and becomes effective Aug. 2.

0 Comments
2020/07/29
13:51 UTC

2

Payment Processors

Howdy y’all 🤠

We’re an online retail store for CBD flower and smokable hemp, and we are looking for a payment processor willing to process our transactions. We are completely legal and compliant.

Let me know if any of y’all know of anyone, because oh boy do we need some pointers now :)

1 Comment
2020/07/21
21:26 UTC

5

USDA Approves Hemp Plan For Minnesota, Tennessee and Puerto Rico

0 Comments
2020/07/16
16:09 UTC

2

The government considers the issuing banks—American banks that issue cards to customers—to be the victims of Weigand and Akhavan's fraud. Phony merchant names and other metadata allegedly tricked these banks into approving payments they would not have approved if they had accurate information.

0 Comments
2020/07/15
20:24 UTC

1

USDA accepting applications for Mississippi hemp production licenses

0 Comments
2020/07/14
21:54 UTC

1

FinCEN Guidance Regarding Due Diligence Requirements under BSA for Hemp-Related Businesses. Thank you to our friends at Bradley Arant Boult Cummings LLP for collaborating with us on this!

0 Comments
2020/07/08
14:33 UTC

2

The Financial Crimes Enforcement Network yesterday issued guidance for financial institutions on how they can conduct due diligence on hemp-related businesses and on what types of information and documentation they may be required to collect from these businesses to comply with BSA requirements

0 Comments
2020/06/30
13:23 UTC

0 Comments
2020/06/29
17:27 UTC

2

"We now know that hemp can successfully be grown here in accordance with state and federal regulations”

0 Comments
2020/06/26
17:03 UTC

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