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Credit Unions can lend to hemp farmers following Tester push

New guidance cuts red tape, provides clarity for hemp producers and financial institutions


Last updated 9/11/2019 at 7:42am

Note: This was provided by the office of Sen. Jon Tester

U.S. Sen. Jon Tester, D-Mont., announced Monday that federally insured credit unions may now provide financial services to legally operating hemp businesses and farmers under a new guidance published by the National Credit Union Administration.

This decision comes after months of efforts by Tester to reduce burdensome regulations and provide clarity for Montana hemp producers.

“This is a strong step toward cutting through the red tape that’s slowing down Montana hemp farmers,” Tester said. “I’m going to keep fighting to...

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