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UPDATE: MADISON (WKOW) — A local credit union which recently refused to take on a CBD business as a customer says they want to wait until state laws are in compliance with financial regulations. State officials say that’s already established. Summit Credit Union verified that Hemp Haven was notified their account would be closed by next week. In a statement provided to 27 News, Summit President and CEO Kim Sponem said they want additional oversight before opening accounts to industrial hemp, CBD oil, etc. “Summit Credit Union has always championed the small businesses and entrepreneurs throughout the communities we serve. While the 2018 U.S. Farm Bill legalized the industrial sale of hemp, individual states must develop an oversight program to be approved by the USDA; Wisconsin has not developed such a program yet.” The Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) oversees the Industrial Hemp Pilot Program. CBD issue puts credit union at odds with state officials

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