League writes to USDA for streamlined hemp compliance

Published by: Emily Leite

January 9, 2020 | Membership

As community-centric institutions, Ohio’s credit unions strive to meet the needs of all members, including member businesses. That’s why your League remains focused on the rulemaking surrounding Ohio’s recent hemp legalization to ensure credit unions seeking to serve the industry remain compliant with state and federal law. Recently, we submitted written comments to the United States Department of Agriculture (USDA) urging the department and participating states, like Ohio, to consider their rulemaking’s impact on hemp industry partners, like financial service providers, particularly on customer due diligence and information sharing. Make sure you read the entire comment letter the League sent to USDA representing the collective interests of Ohio’s credit unions. We expect the proposed state and federal rules for hemp regulation to be finalized towards the end of 2020 Q1.

If your credit union would like additional information on the proposed hemp rulemaking process or helpful guidance in serving hemp-related businesses, contact the League’s Senior Vice President of Advocacy, Emily Leite at 800-486-2917, ext. 270, or eleite@ohiocul.org.

CONTACT US

E: eleite@ohiocul.org
T: (614) 923-9770
C: (614) 581-8460

Other Movement News

Government Affairs

Advocacy on track at Churchill Downs

Ohioans and communities are best served when credit unions and regulators work together to cultivate a financial services industry that puts people first. That is why the Ohio Credit Union […]
Regulatory

League advocates for an updated CTR threshold

Constantly increasing regulatory pressures put a strain on a credit union’s resources and ability to focus on what matters most: serving members; thus, the League is always looking for opportunities […]
Member Benefits

Unlocking Strategic Insights with Peer Suite

Data-driven decision-making is paramount for credit unions striving to grow and better serve their members. Recognizing this need, the League offers Peer Suite as a powerful member benefit. This comprehensive […]