Credit Unions Can Bank Hemp Businesses, Federal Agency Announces

Credit Unions Can Bank Hemp Businesses, Federal Agency Announces

A federal financial agency released updated guidelines on banking in the hemp industry on Monday, following up on requests from multiple lawmakers to provide clarity on the issue.

The National Credit Union Administration (NCUA) said in its interim guidance that providing banking services to hemp businesses is allowable since the crop and its derivatives were federally legalized under the 2018 Farm Bill. The notice also emphasized the economic potential of hemp and the role credit unions can play as the industry continues to develop.

“Lawful hemp businesses provide exciting new opportunities for rural communities,” NCUA Chairman Rodney Hood said in a press release. “I believe today’s interim guidance keeps with the mission of the nation’s cooperative credit system to serve people who have been overlooked and underserved.”

“Many credit unions have a long and successful history of providing services to the agriculture sector,” he said. “My expectation is that credit unions will thoughtfully consider whether they are able to safely and properly serve lawfully operating hemp-related businesses within their fields of membership.”

In a letter sent to Sen. Michael Bennet (D-CO) last month, which the presidential candidate’s Senate office shared exclusively with Marijuana Moment, Hood noted that NCUA was “working on possible future guidance to financial institutions”but that such guidance would be subject to change depending on what regulations the U.S. Department of Agriculture (USDA) ultimately develops.

In the meantime, the new interim guidance notes that “growth in hemp-related commerce could provide new economic opportunities for some communities, and will create a need for such businesses to be able to access capital and financial services” while clarifying that credit unions “may provide the customary range of financial services for business accounts, including loans, to lawfully operating hemp related businesses within their fields of membership.”

While NCUA said that it is “generally a credit union’s business decision as to the types of permissible services and accounts to offer,” it highlighted the need to comply with the Bank Secrecy Act (BSA) and with Anti-Money Laundering (AML) requirements, in particular:

—Credit unions need to maintain appropriate due diligence procedures for hemp-related accounts and comply with BSA and AML requirements to file Suspicious Activity Reports (SARs) for any activity that appears to involve potential money laundering or illegal or suspicious activity. It is the NCUA’s understanding that SARs are not required to be filed for the activity of hemp-related businesses operating lawfully, provided the activity is not unusual for that business. Credit unions need to remain alert to any indication an account owner is involved in illicit activity or engaging in activity that is unusual for the business.

—If a credit union serves hemp-related businesses lawfully operating under the 2014 Farm Bill pilot provisions, it is essential the credit union knows the state’s laws, regulations, and agreements under which each member that is a hemp-related business operates. For example, a credit union needs to know how to verify the member is part of the pilot program. Credit unions also need to know how to adapt their ongoing due diligence and reporting approaches to any risks specific to participants in the pilot program.

—When deciding whether to serve hemp-related businesses that may already be able to operate lawfully–those not dependent on the forthcoming USDA regulations and guidelines for hemp production–the credit union needs to first be familiar with any other federal and state laws and regulations that prohibit, restrict, or otherwise govern these businesses and their activity. For example, a credit union needs to know if the business and the product(s) is lawful under federal and state law, and any relevant restrictions or requirements under which the business must operate.

“Hemp provides new opportunities for communities with an economic base involving agriculture,” the notice states. “The NCUA encourages credit unions to thoughtfully consider whether they are able to safely and properly serve lawfully operating hemp-related businesses within their fields of membership.”

After USDA releases its rules for the hemp industry, which are expected to come ahead of the 2020 planting season, NCUA said it “will issue additional guidance on this subject.”

Senate Majority Leader Mitch McConnell, who like Bennet has also pressured federal regulators to clear up confusion around hemp banking, took credit for NCUA’s response and celebrated the new guidance.

“I’m delighted to hear the NCUA has answered my call on behalf of Kentuckians to ensure the legal hemp industry can access much-needed financial services,” McConnell said in a press release. “Although President Trump signed into law my initiative last year to remove hemp from the federal list of controlled substances, many of my constituents have told me about their difficulty receiving loans and other services that are necessary to successfully run a hemp business.”

“Through this guidance by the NCUA, I look forward to more hemp farmers, processors and manufacturers starting or growing their operations with the help of Kentucky’s credit unions,” he said. “As Senate Majority Leader, I’ll continue advocating for Kentucky’s priorities throughout the federal government, and I’m proud of today’s positive news.”

Credit unions have generally been friendlier to the marijuana and hemp industries than have conventional banks, and NCUA has similarly taken a more proactive role in evolving to meet the demands of these burgeoning markets.

For example, the agency’s head clarified earlier this month that credit unions wouldn’t be punished simply for serving hemp businesses so long as they were following standard procedures. NCUA also released a draft rule in July that would allow people with past drug convictions to work at credit unions.

Cannabis banking issues have received significant congressional attention this session, with a bipartisan consensus emerging around creating a legislative fix so that hemp and marijuana businesses are able to access financial services.

The hemp industry in particular has enjoyed bipartisan support since the crop was legalized, but while marijuana remains a federally controlled substance, more lawmakers from across the aisle are expressing interest in affording cannabis businesses the same access in order to increase financial transparency and mitigate public safety risks associated with operating on a largely cash-only basis.

The House Financial Services Committee approved a bill in March that would protect banks that service marijuana businesses from being penalized by federal regulators, and the Senate Banking Committee also held a hearing on the issuelast month.

Banking Chairman Mike Crapo (I-ID), who suggested earlier this year that his panel wouldn’t convene to discuss the matter as long as cannabis is federally illegal, has since taken a stance that the issue needs to be resolved.

But while advocates hoped that legislation to address marijuana banking problems would be taken up by the full House ahead of the August recess, that window closed and attention is now turned to a potential hearing in the fall.

This story originally appeared at Marijuana Moment.

Hemp the Superfood

Hemp the Superfood

Even though many are moving toward CBD for its health benefits, the market is still crazy and confusing. Perhaps it’s time we all take a closer look at Hemp protein and Hemp seeds as the superfoods that they are. Discover the easy and logical way to give our body more balance nutrients from one source. Hemp is the power booster to reboot our bodies immune system engine! Btw – hemp smoothies are off the charts tasty with Hemp milk and your favorite fruits!

Hemp is made for human consumption which has become obvious just recently when we found out, in the last five years, we have an endocannabinoid system with receptors for cannabinoids! Who knew? We certainly didn’t know, and now, we do. Why wait to hemp up our endocannabinoid system when we have completely legal Hemp, Hemp proteins and Hemp seeds at our fingertips. *be sure to go with reputable companies for your products andread the ingredients!

These small, brown seeds are rich in protein, fiber, and healthful fatty acids, including omega-3s and omega-6s. They have antioxidant effects and may reduce symptoms of numerous ailments, improving the health of the heart, skin, and joints.

Although hemp seeds come from the Cannabis sativa plant, they do not produce a mind-altering effect.

In this article from Medical News Today, we look at the various benefits of hemp as a superfood.

Nutritional benefits of hemp seeds


Benefits of hemp seeds

Hemp seeds are a complete source of protein, providing all nine essential amino acids.

Hemp seeds contain almost as much protein as soybeans. In every 30 grams (g) of seeds, or about 3 tablespoons, there are 9.46 g of protein.

These seeds are a complete source of protein, meaning that they provide all nine essential amino acids. Amino acids are the building blocks for all proteins. The body cannot produce nine of these acids, so a person must absorb them through the diet. Relatively few plant-based foods are complete sources of protein, making hemp seeds a valuable addition to a vegetarian or vegan diet. Hemp seeds are especially rich in an amino acid called arginine, which has benefits for heart health.

Hemp contains an extensive list of naturally occurring vitamins, including vitamins A, C, and E. Also present are B complex vitamins like riboflavin, thiamine, and niacin. Hemp further contains vitamins that are not sufficiently present in most modern diets, like beta carotene, helping users gain the nutrients they need to maintain health. Hemp is likewise a source of minerals like zinc, potassium, calcium, phosphorus, iron, and magnesium.

Protein in your diet is essential in the receiving of amino acids, but it’s important that we obtain protein from the right sources. Eating even small amounts of red meat has been warned against by health officials. Instead, essential amino acids can be obtained through plant sources like hemp, which contains all 20 amino acids – including the 9 essential amino acids our body can’t make on its own.

The one fat you can never get enough of is Omega 3, but modern diets typically use other, less healthy fats. While both Omega 3 and 6 fatty acids are essential to human health, they should ideally be consumed at a close ratio of around 3:1. Eating the right kind of Omega 6 fatty acids, like gamma-linolenic acid (GLA), a plant-based Omega 6 fatty acid found in hemp at the 3:1 ratio suggested, can reduce the negative effects of high-fat diets.

The shelled seeds of the hemp plant contain about 35 percent essential fatty acids and 33 percent plant protein. They are also rich in soluble and insoluble fiber. These high levels of protein, fiber, and healthy omega fatty acids mean that using hemp foods can benefit you by helping aid proper digestion and promoting healthy eating patterns, which may lead to weight loss. 

Hemp seeds contain an impressive array of vitamins and minerals and are especially rich. According to the USDA National Nutrient Database, one tablespoon or 30 grams of hemp seeds contains:

  • 166 calories
  • 9.47 g of protein
  • 14.62 g of fat
  • 2.6 g of carbohydrates (including 1.2 g of fiber and 0.45 g of sugar)
  • 21 mg of calcium
  • 2.38 mg of iron
  • 210 mg of magnesium
  • 495 mg of phosphorus
  • 360 mg of potassium
  • 2.97 mg of zinc

Healthy Benefits

Protect the brain

Benefits of hemp seeds brain

The CBD compound found in hemp seeds may help with neurological conditions.

A study published in the journal Food Chemistry found that hemp seed extract has antioxidant effects in lab tests. These effects may result from the seeds’ cannabidiol (CBD) content.

Results of a review from 2018 suggest that CBD and other compounds in the seeds may have neuroprotective, anti-inflammatory, effects and may also help to regulate the immune system.

The review suggests that, because of these potential properties, CBD may help with neurological conditions, including:

Boost heart health

The medical community believes that omega-3 fatty acids improve the health of the heart and reduce the risk of issues such as arrhythmias and heart disease.

Hemp seeds contain high levels of omega-3s and a healthful ratio of omega-3 to omega-6 fatty acids.

The seeds also contain high levels of arginine, an amino acid that turns into nitric oxide.

Nitric oxide is essential for artery and vein dilation, and it helps keep blood vessel walls smooth and elastic.

Lowering blood pressure, eating a healthful diet, and participating in varied forms of exercise may help to decrease the risk of heart failure.

Reduce inflammation

The amount of omega-3s in hemp seeds and the seeds’ healthful omega-3 to omega-6 ratio can together help to reduce inflammation.

In addition, hemp seeds are a rich source of gamma-linolenic acid (GLA), a polyunsaturated fatty acid which may also have anti-inflammatory effects.

Some studies on animals suggest that GLA can act as a potent anti-inflammatory. However, recent studies in humans suggest that the acid is not always effective.

A review in The European Journal of Pharmacology states that humans process GLA in a very complicated way, which may explain why the studies in humans produce more varied results than those on animals.

When looking at these studies, it is important to note that researchers usually use high concentrations of hemp seed extracts and that eating the seeds may produce less dramatic effects.

Reducing inflammation may help manage the symptoms of chronic diseases, such as:

Improve skin conditions

Atopic dermatitis (AD) and acne can both result from chronic inflammation. The anti-inflammatory compounds in hemp seeds may help.

Among other possible dietary causes, acne may be linked to a deficiency in omega-3s. The high omega-3 content in hemp seeds may help to manage and reduce acne symptoms.

2018 review explored the effects of dietary changes on skin diseases. While the authors found evidence that eating more omega-3s may improve symptoms of acne, determining the extent of the effects will require more research.

The authors also note that prebiotics and plant fibers may help to manage symptoms of AD. Hemp seeds are a rich source of plant fiber.

Relieve rheumatoid arthritis

Rheumatoid arthritis is an autoimmune condition. It causes the immune system to attack its own tissues, which leads to inflammation in the joints.

In 2014, research conducted in human cells suggested that hemp seed oil could have anti-rheumatic effects.

However, a 2018 review found a lack of conclusive evidence to suggest that cannabinoids could effectively treat rheumatic diseases. The authors noted that more research is needed.

Note from the Publisher, darlene mea:

Why wait for healthy? If it is our intent to get back to healthy, Hemp seeds and Hemp Protein is a powerful way to re-boot our engine! Let me know how it goes?

Hemp Industry Booming in Nevada

Hemp Industry Booming in Nevada

In 2017, the Nevada Department of Agriculture issued 26 permit for hemp growers as a research program. In 2018, hemp was removed from the Schedule 1 federal drug list, and turned into an agricultural commodity. Now there are more than 200 hemp grower in the silver state.

In 2017, the Nevada Department of Agriculture issued 26 permit for hemp growers as a research program. In 2018, hemp was removed from the Schedule 1 federal drug list, and turned into an agricultural commodity. Now there are more than 200 hemp grower in the silver state.

Don Blunt is one of the more than 200 farmers growing hemp this season, and it’s his first since joining the industry. They’re about seven to eight weeks away from their first harvest, but right now they’re making space to grow more next year.

“We’re going to clear another 50 acres next year, We have a 50-acre farm this year and it’s doing quite well,” Blunt says. “We have about 110 thousand plants, and the growing cycle is 120 days and we’re about halfway there.”

Blunt opened his farm in March and planted his first hemp plants in June. He decided to start a hemp farm after CBD cured his migraines. He had gone to neurologists at the Mayo Clinic and Stanford and nothing worked prior.

“That was about a little less than a year ago,” Blunt says. “And I’m headache free now I lost all of my migraines because of the CBD.”

There’s demand for industrial hemp products like rope, but Blunt plans to sell all of his hemp for CBD use. He likes the medicinal effects, and likes the variety of products.

“Tinctures, the vapes, the balms, the rubs for arthritis and so forth,” Blunt says. “We’ve had several inquiries for cancer treatments for the pain. Pets is a huge market. We give all of our pets CBD.”

In order for hemp to be legally sold by farmers, it has to be tested for THC, and can’t have more than .03 percent of THC. Blunt says that’s not hard to meet if you buy quality product.

“It’s all about the genetics,” Blunt says. “If you buy good seeds from the proper people. We actually do third-party testing with three different labs in three different states.”

Blunt says he could add more acreage down the line. He hopes as the industry grows and more states recognize cannabis and hemp as useful products, banks will be more open to doing business with them.

“They have kind of grown in their horns so to speak,” Blunt says. “They’re not supporting hemp at this time. And I hope that changes because it makes it tough on us farmers.”

Blunt has six full-time employees, and adds about 30 workers when it’s time to harvest because there’s so much extra work.

This story originally appeared at

FDA Exec: Don’t Expect an Exception for CBD

FDA Exec: Don’t Expect an Exception for CBD

CBD treatments are promising, but far more research needs to be done before federal authorities can allow them in foods and dietary supplements, according to a leader of the U.S. Food and Drug Administration’s new cannabinoid work group.

Talking to the National Industrial Hemp Council, Lowell Schiller warned CBD producers in attendance that the FDA plans to treat hemp extracts like any other new ingredient going into foods or drugs – meaning that without research on dosing and drug interactions, the agency is unlikely to approve over-the-counter use.

“We don’t hold a grudge against (cannabinoids), but we also don’t hold them to a lower standard of safety or absolve them of other requirements,” he told the gathering in Portland, Oregon.

“Consumers have a right to expect the same level of FDA protection with respect to hemp and derivatives like CBD as they would expect with respect to any other substance.”

Schiller repeated FDA concerns about:

  • Potential adverse effects from CBD use, including liver damage.
  • The lack of data on long-term use of CBD.
  • Unproved claims of therapeutic benefits from CBD.

“If we don’t think we’ll have the data to say that some level of CBD can be safely added to a food or dietary supplement, then we wouldn’t want to create an exception for CBD,” he said.

Schiller told the industry group the FDA is excited about cannabinoids’ potential for therapeutic use, but more research is needed. He said the agency would report progress on its cannabinoid review in “early fall.”


Ray: There is that “more research” propaganda again. No one believes the FDA simply because they play the Fake News card and because they know they picked the wrong side when it came to the cannabis plant. There is plenty of research and testimonials on the side effects and benefits of cannabis including CBD if they really want to find it.The FDA gave us Fentanyl and:Infliximab. Brand Name: Remicade.
Used For: Crohn’s disease, rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, plaque psoriasis, and ulcerative colitis.
Side Effects: Cancer (Skin, Lung, breast cancer, gastrointestinal) labored breathing, joint pain, pneumonia.Do you know what product helps patients with Chron’s disease? Yep, cannabis. And cancer is not a side effect.

Deetew: Wow, the FDA wants a lot of information on CBD before jumping to conclusions. Keep in mind that the GW Pharmaceuticals study that showed liver damage from CBD used acute doses of 180,000 mg of pure isolated CBD in a 75 kg individual —beyond anything anyone would ever use or afford. Also, I can buy a barrel of Ibuprofen and destroy my kidneys and stomach lining, and the FDA won’t care about my safety. —Why, because it already gave me chronic gastritis, and the FDA doesn’t care. Don’t believe that the FDA isn’t biased against CBD, because they most certainly are either receiving revolving door promises from GW Pharmaceuticals, or they are getting straight up bribed. Investigate.

Mike: Hopefully we can unmark the alleged “proprietary” chemovar that GW PHarma is using and show that the same effects can be achieved with hemp and cannabis extracts.

Bev: The FDA allows neurotoxic, endocrine disrupting, fluoride to be given to children. Fluoride was NEVER tested, but can be prescribed because it was grandfatered! Spare us your concern about CBD products, oh font of wisdom FDA, you merely want control.Fluoride is a drug that has only been approved for topical application. Children’s sodium fluoride anti-cavity supplements were never found safe or effective by the Food and Drug Administration (FDA). Sodium fluoride supplements are routinely fed to little children to prevent tooth decay. They are drugs requiring a dentist’s or physician’s prescription. FLuoride supplements were “grandfathered in” before the 1938 law was enacted requiring drug testing. So, products on the market before 1938 were presumed safe by the FDA who allowed grandfathered drugs to be sold without any testing. Once a drug is on the market for any reason, doctors can use them to treat any disease or condition. Sodium fluoride was on the market pre-1938, but not to stop cavities and not for any medical reason. Sodium fluoride sold as a rat poison.

Cyrus Emerson: CBD needs to be approved before Hemp can move into the textile market. Ha ha. As an investor this has been a painful adventure with my stock going lower and lower all the time.Even after becoming Federally legal my investment continues to find all time lows.If the FDA doesn’t approve CBD a lot of other investors will feel the pain too.

Poncietta M Chavez: It would seem to me that the FDA would want a drug with few side effects. CBD has been proven to help many medical conditions when nothing else could. The testimonials are out there, it is no big secret. When one look at the side effect of many of the drugs that are currently on the market and are FDA approved, I do not understand how they can even consider that the side effects far outweigh the disease/condition that is being treated. Many of these approved drugs are more harmful than the condition that they are treating but doctors do not hesitate to prescribe these to their unsuspecting patients because they have something to gain from the big pharmaceuticals. The big pharmaceutical could care less because it’s the bottom line that counts … to heck with human life … consider it collateral damage. I’d bet anything that none of these individuals would take or allow their loved ones to take any of these meds. Through the years, there have been drugs that have been approved and it’s not until there is a rash of deaths or other serious side effects does the FDA decide to pull the drug from the market.PRIME EXAMPLE: Celecoxib Safety DebatedThe safety of the COX-2 inhibitor celecoxib (brand name Celebrex) came under scrutiny when the other COX-2 inhibitors were taken off the market more than a decade ago.The medical literature includes studies showing an increased risk of serious cardiovascular problems with celecoxib.
The Food and Drug Administration (FDA) position is that the risk for certain patients is worth the benefit of celecoxib. Taking the lowest effective dose of celecoxib, for the shortest time possible, is advised by the FDA, and prominent warnings are required on packages for all nonsteroidal anti-inflammatory (NSAIDS), including celecoxib, highlighting the risks.6

Results of a long-term, multinational clinical trial that began in 2006 to assess and compare the risk of celecoxib with other common NSAIDs have not yet been released.7NEED I SAY MORE?

Serg: This is such an absurdity. The FDA does not care about your safety, all they care about is the almighty dollar. Their line about research on long term effects is a farce. The perfect example: Just watch any commercial on medication and listen to the ridiculous amount of side effects on each and every product, some of which include death or suicidal tendencies. All they say is consult your doctor or discontinue use. What a joke.

Mike: Big Pharma knows the benefits of CBD and is pushing the FDA to delay it as long as possible so they can corner the market. They obviously control FDA just they and the other big corporations do congress….

This story originally appeared at Hemp Industry Daily.

Jack Herer Documentary: The Emperor of Hemp Wears No Clothes

Jack Herer Documentary: The Emperor of Hemp Wears No Clothes

Know the history of Hemp in order to understand your future. To understand why Cannabis was taken from the American people, it’s important to know the truth about Cannabis history.