Hemp Inc (HEMP)

[ChanceVision]

If you are referring to the banks/credit unions, it has everything to do with hemp or cannabis in general.

No or very few banks or credit unions can provide banking or loans to cannabis companies no matter if it's hemp or marijuana. They are both considered cannabis. Most if not all banks and credit unions have been prohibited by law and cannot work with any cannabis companies. That is all about to change as they finally see the big picture and potential in this massive industry.

I personally know the owner of a hemp CBD company and their merchant accounts which they process credit cards through have been shut down on at least a few occasions. I know of another huge hemp CBD company that has experienced the same issues. They have each had to switch merchant accounts at least a few times because as soon as the merchant account issuers found out they dealt with hemp CBD they shut down their accounts.

A third example of this I just experienced with a local company that just opened a new store in my town. I bought a hemp CBD pre-roll 2 days ago and the receipt that they emailed me said the store name was "Something Blank Blank Cosmetics." It did not have their actual name on the receipt or any mention of what was bought. This means that they most likely had the same issues as the 2 other companies stated above or they were trying to avoid having their merchant account shut down.

Even hemp CBD companies that mostly sell CBD oil and other CBD products have to be sneaky as of right now until the banking laws change. Sad and ridiculous, but true.