article thumbnail

US Treasury Tells Banks To Treat Hemp Businesses Like Any Other

PYMNTS

Treasury Department’s financial crime division, the agency said the new guidance is in response to questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers. Hemp, a strain of cannabis with lower concentrations of THC, the substance that makes users high, was legalized in 2018.

Treasury 140
article thumbnail

Henry Clay’s “American System” Is Bad News for the American Economy

CFO News Room

Clay maintained that import tariffs could be used to give American manufacturers a leg up over European goods, while also cultivating “infant industries” that he deemed to be in the young nation’s strategic interests. As a war measure, it amounted to a self-inflicted wound by alienating Britain from the Union’s cause.

Economics 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Transcript: Liz Ann Sonders, Schwab

Barry Ritholtz

You still get these, you know, cap driven concentration problems in the market like last year. But we subsequently went into recession like conditions for many of those goods oriented categories like manufacturing and housing, housing related, a lot of consumer oriented products and goods that were big beneficiaries of the lockdown phase.

article thumbnail

Transcript: Liz Hoffman

Barry Ritholtz

They don’t let the reporters into the fun stuff, but it’s a bunch of CEOs with Steven Mnuchin, the Treasury Secretary, and they’re all yakking about this, the big theme that year, as it often has been since then, was environment, ESG, and they’re all talking about the kind of corporate babble that you hear at these things.