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

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