Browsing: 2018 Farm Bill

Compliance and Risk

While the 2018 Farm Bill authorized production and processing of hemp plants with less than 0.3% THC content, bankers need to carefully review USDA’s rules for production and licensing. Meanwhile, legal production of hemp derivatives will depend on guidance from the FDA.

Ag Banking

While the 2018 Farm Bill reclassified hemp as a legal agricultural commodity, banks still face challenges in serving hemp producers and hemp-related businesses, the American Bankers Association said today in a statement submitted for the record of a Senate Agriculture Committee hearing.

Newsbytes

In a statement for the record before today’s House Agriculture Committee hearing on the rural economy, ABA called on lawmakers to ensure farmers’ ongoing access to adequate credit by updating the U.S. Department of Agriculture’s guaranteed farm loan programs.

Ag Banking

Responding to a recent American Banker op-ed calling for the expansion of the Farm Credit System, Leonard Wolfe, president and chairman at United Bank and Trust in Marysville, Kan., said that any effort to do so would “fundamentally ignore the reality on the ground in agricultural lending today” and ultimately do little to help rural America. 

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