Industrial Hemp and Banking Resources
Department of Agriculture – National Institute of Food and Agriculture
Information
and resources from the Department of Agriculture related to industrial hemp: https://nifa.usda.gov/industrial-hemp
Small Business Administration
The Small Business Administration (SBA) issued a revised standard operating procedure notice concerning marijuana/cannabis activity. The guidance concerns businesses that are involved with cannabis (direct marijuana business, indirect marijuana business, and hemp-related business) and their eligibility for SBA financial assistance. Recently updated SBA guidance addressing this topic was issued on April 3, 2018 may be found at the following link:
https://www.sba.gov/sites/default/files/resource_files/SBA_Policy_Notice_5000-17057_Revised_Guidance_on_Credit_Elsewhere_and_Other_Provisions.pdf
Marijuana Banking (Updated 6/8/2018)
PENNSYLVANIA MEDICAL MARIJUANA PROGRAM
The Pennsylvania Department of Health is in the process of implementing the state’s Medical Marijuana Program, signed into law on April 17, 2016.
FEDERAL AGENCY GUIDANCE
Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN) has issued guidance to clarify BSA expectations for financial institutions providing services to marijuana related businesses:
https://www.fincen.gov/sites/default/files/shared/FIN-2014-G001.pdf
Federal Deposit Insurance Corporation
Those depository institutions regulated by the FDIC should be familiar with the FDIC statement
on providing banking services:
https://www.fdic.gov/news/news/financial/2015/fil15005.html
Federal Financial Institutions Examination Council
The information put out by the Federal Financial Institutions Examination Council including
the Bank Secrecy Act Anti-Money Laundering Examination Manual.
https://www.ffiec.gov/bsa_aml_infobase/default.htm
Department of Justice - Office of the Attorney General
Memorandum for all United States Attorneys on the subject of Marijuana Enforcement from Attorney General Jeff Sessions on January 4, 2018:
https://www.justice.gov/opa/press-release/file/1022196/download
Disclaimer: This is not an exhaustive list. An institution chartered or licensed by the Department of Banking and Securities should seek legal advice when considering whether to offer services to entities engaged in the medical marijuana industry.