For a recent education event, the WBA organized State and Federal regulators, law enforcement, legal experts, farmers, hemp experts, and bankers to share their insights on the challenges and opportunities offered by hemp and CBD oil to the Badger State. The event resulted in multiple successes for the industry beyond the obvious educational advantages for the attending bankers. Here’s how:
- Educating legislators. A white paper regarding the event takeaways is being distributed in the Legislature. It highlights the challenges bankers face in the hemp industry. More importantly, it shows that the 80+ bankers attending were finding ways to say “yes” to their customers operating in the Wisconsin hemp/CBD oil industry. We’ve already had legislators asking for a recap of the event.
- Earned media. CBS 58 covered the event and reported on almost every point WBA wanted legislators, media, and the public to know. CBS 58 even changed their online report due to WBA’s request they correct calling Summit Credit Union a bank.
- Regulators listened. The FDIC and DATCP both sent a representative to serve as panelists. Both shared their perspectives on this issue as well as addressed questions from bankers in the audience. More importantly, both stayed for the majority of the event, listening to the questions and concerns from bankers throughout the day.