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OCC Bulletin 2019-61
December 3, 2019
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Chief Executive Officers of All National Banks,Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads;All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Financial Crimes Enforcement Network (FinCEN) (collectively, the agencies) today issued a statement to provide clarity regarding the legal status of commercial growth and production of hemp and relevant requirements for banks1 under Bank Secrecy Act (BSA) and its implementing regulations.
The statement applies to all OCC-supervised banks.
In the joint statement, the agencies
Please contact Spencer Doak, Director for Bank Secrecy Act and Anti-Money Laundering Policy, at (202) 649-5470.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
1For the purposes of the interagency statement, the term “bank” means each agent, agency, branch, or office within the United States of commercial banks, savings banks, savings and loan associations, thrift institutions, and foreign banks.