NCUA Additional Guidance Regarding Servicing Hemp-Related Businesses

June 18, 2020

NCUA reminds credit unions that NCUA examiners will collect data concerning the types of services credit unions are providing to hemp-related businesses and states that the NCUA expects credit unions to employ sufficient customer due diligence procedures as part of their BSA/AML compliance program to ensure hemp growers possess a valid state or USDA license.

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