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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Since 1933, no depositor has ever lost a penny of FDIC-insured funds

Financial Institution Letters

FIL-78-2019
December 3, 2019

Bank Secrecy Act: Interagency Statement on Providing Banking Services to Customers Engaged in Hemp Production

Printable Format:

FIL-78-2019 - PDF (PDF Help)

Summary:

The FDIC, along with the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Financial Crimes Enforcement Network (FinCEN) is issuing a joint statement on providing banking services to customers engaged in hemp production. FinCEN will issue additional guidance after further reviewing and evaluating the U.S. Department of Agriculture (USDA) interim final rule.

Statement of Applicability to Institutions: This Financial Institution Letter applies to FDIC-supervised banks and savings associations.

Highlights:


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Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

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