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American Bankers Association Demands Answers About Hemp And CBD

Let The Truth Be Told

US Congress failed to open Banks to Accept CBD sales


The American Bankers Association (ABA) recently sent a letter imploring top federal financial regulators to provide explicit guidance on how the banking sector can lawfully service hemp businesses.

The letter—sent to the heads of the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), the Treasury’s Comptroller of the Currency and Financial Crimes Enforcement Network (FinCEN) last week—describes ongoing uncertainty among financial institutions since hemp and its derivatives were federally legalized under the 2018 Farm Bill. There have been other attempts to elicit clarification from federal regulators in the months since hemp was legalized, to no avail. Sounds like Big Pharma is in the pockets of congress.  

But so far, the closest the regulators have come to assuaging the concerns of banks is a statement from a top Federal Reserve official who said during a Senate hearing earlier this month that “hemp is not an illegal crop.”

No Name Oil will continue to provide the best possible ordering services, while the government and Big Pharma lose control of what is happening in the No Name Oil battle to offer you fast online credit/debit card ordering.  Should you want to see the facts why No Name Oil beats all other CBD oils, you can go to

We are working to obtain a merchant online credit/debit card processor, that will eventually offer online ordering at You can check in there from time to time, to see if the new service has become available.