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{"84609959-5056-A066-60C8-C525E98F6523":{"TotalRows":1,"uid":"84609959-5056-A066-60C8-C525E98F6523","title":"Senator Schumer addresses barriers to local industrial hemp industry","summary":"Genesee, NY","eventType":"chuck-around-ny","eventTypeLabel":"Chuck Around NY","date":"October 1, 2019","url":"about/chuck-around-new-york/senator-schumer-addresses-barriers-to-local-industrial-hemp-industry","city":"Basom","county":"Genesee","lat":43.085882,"lng":-78.35867999999999,"description":"<p><span>On October 1st, 2019 U.S. Senator Charles E. Schumer stood at a soon-to-be harvested hemp field in Genesee County, flanked by growers, producers, and industry experts, to launch a new push to iron out a thorny issue for the burgeoning industrial hemp industry in Upstate New York. Even though the enactment of the 2018 Farm Bill—including Schumer’s Hemp Farming Act of 2018—legalized the production and sale of industrial hemp, financial institutions have continued to question whether or not they can extend their services and products to industrial hemp-oriented businesses and farms even though it is fully legal. Schumer explained that without access to traditional financial services, local farmers and the industrial hemp industry Upstate and in Genesee County is being unfairly restricted, preventing further economic growth and the creation of good-paying jobs and choking off valuable income for farmers. To address this issue, Schumer requested that the Federal Deposit Insurance Corporation (FDIC), Federal Reserve, and the Office of the Comptroller of the Currency (OCC) expediently issue guidance to financial institutions confirming the legality of providing services to the industrial hemp industry, to better seed and grow it across Upstate New York.</span></p>"}}

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