The Agriculture Improvement Act of 2018 (the farm bill) was a hugely impactful piece of legislation for any producers of cannabis products because it essentially removed hemp derived CBD from the Controlled Substance Act. So now, it no longer sits as a schedule one narcotic on the CSA. Basically, we no longer have many restrictions that we had before.But many restrictions still remain. We should theoretically no longer be restricted by banks, yet banking is still an issue. Hemp is no longer a controlled substance. There has not been a change in behavior from national banks. So while hemp derived CBD producers should be able to go get a bank account with no issue, that's not necessarily the case.
Text from the Farm Bill
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