NASCUS Summarizes NCUA Interim Hemp Guidance

NCUA has issued “interim guidance” for credit unions interested in serving the legalized hemp industry. The guidance will be updated as needed as necessary regulations are issued by the United States Department of Agriculture (USDA) and others regarding the growth, processing, manufacture, and retail sale of hemp. The change in federal law results from the 2018 Farm Bill removing hemp from Schedule I of the Controlled Substances Act (signed into law on December 20, 2018).

NASCUS  Legislative & Regulatory affairs staff summarized the alert and it can be found here.