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Today is: February 20, 2019  


Monthly Telephone Briefing

BCG offers its members monthly Telephone Briefings on legal and regulatory matters. Also, you have the option to listen to audio presentations of meetings archived for up to 12 months after their original presentation dates. This benefit is called, “Listen While You Work.” You simply select a topic, minimize the screen, and listen to a streaming audio presentation while you work at your desk.

Please feel free to sign up annually, register for the next scheduled BCG Monthly Telephone Briefing or download an archived Handout below.


BCG Monthly Telephone Briefing Schedule 2019
Jan Feb Mar April May June July Aug Sept Oct Nov Dec
18 15 15 19 17 21 19 16 20 18 15 TBA


Current BCG Monthly Telephone Briefing Topic(s)



Friday, February 15, 2019
12:00 - 1:30 p.m.
Available for Streaming

Impact of the Legalization of Industrial Hemp Under the 2018 Farm Bill

On December 20, 2018, the 2018 Farm Bill was signed into law which included an amendment to the Controlled Substances Act to exclude hemp from the definition of marijuana, thereby removing hemp as a Schedule 1 controlled substance. While that may be good news for growers and manufacturers of industrial hemp, there are still quite a few hurdles that still exist for these businesses before they can legally deal with industrial hemp. In turn, these and other complications will still make it difficult from a BSA perspective for financial institutions to provide banking services to industrial hemp businesses.

Join us at our February Telephone Briefing as we discuss the 2018 Farm Bill’s changes to the treatment of industrial hemp. The briefing will also include a discussion of the impediments which remain in providing financial services to industrial hemp businesses, such as licensing requirements of either the California or the U.S. Department of Agriculture. We will also consider the impact of the FDA’s prohibitions on the use of industrial hemp in food, beverages and dietary supplements. Download Handout Here!

Agencies Issue Private Flood Insurance Final Rule

Currently, lenders do not have to accept private flood insurance (PFI) policies. If the policy meets certain criteria, a lender may choose to accept a PFI. (It is the lender’s prerogative. It can do what it wants to do.) Some lenders have taken this challenge on; others have understandably shied away from it. However, soon lenders will no longer have this option. This is because the agencies issued a final rule on February 12, 2019 that, effective July 1, 2019, will require regulated lenders to accept certain PFI policies on designated loans.

Because of the fast-approaching effective date, BCG is adding a Handout on this PFI final rule on a last-minute basis to the agenda for the February 15, 2019 BCG Telephone Briefing. We will discuss when a regulated lender may or must accept a PFI on a designated loan. Download Handout Here! 










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