On Monday, federal regulators offered guidance on banking services for hemp businesses.

In a move that could signal a new era for the resurgence of hemp in the United States, the National Credit Union Association announced on August 19 that it was issuing guidance to its member institutions on providing banking services to businesses in the hemp industry. The NCUA, an independent agency of the federal government created by Congress, regulates credit unions and administers the National Credit Union Share Insurance Fund, which insures the deposits of account holders in all federal credit unions and most state-chartered credit unions..