A bank in Wyomissing, Pennsylvania, has Hemp in the News with its announcement to provide banking services to registered hemp companies in Pennsylvania and New York.
Banking has long been a challenge for hemp growers and business owners. Banks haven’t wanted to take the risk of serving the controversial, and often misunderstood industry. Now, Customers Bank is making it possible for hemp businesses to access basic business banking services, such as online and mobile banking, bank fraud protection, and online wire transfers. They’ll also be able to get business bank loans. It’s a milestone for the hemp industry in the U.S.
Hopefully, Customers Bank is setting a precedent that other banks will follow.
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