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ABA: The American Bankers Association
Testimony

Statement for the Record before the Agriculture, Nutrition and Forestry Committee re: Hemp Production

  • Published July 25, 2019

Statement for the Record on behalf of the American Bankers Association before the Agriculture, Nutrition and Forestry Committee of the United States Senate re: hearing on hemp production and the 2018 Farm Bill.

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Banks are willing to provide financing to hemp-related businesses, but challenges still exist. Banks need federal agencies to issue guidelines in a timely manner that are clear, consistent and create a predictable legal standard that is easy for banks to confirm and their customers to adhere to. With these guidelines in place, it will increase the availability of credit to hemp-related businesses and producers.

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