thank you Madam chairwoman I rise Madam Speaker. I rise in support of HR 1590 - five the Safe Banking Act and I wanna thank my friend the gentleman from Colorado for working with me in a bipartisan way to include two amendments that will allow legal hemp farmers and businesses in my district access financial services. Kentuckians have a deep interest in the production cultivation and sale of industrial hemp and we have historic connections to this too. Many Americans may not know but my predecessor in the Central Kentucky seat in Congress. Speaker of the Was once a hemp farmer now thanks to the farm bill. The hemp industry in the Commonwealth is booming once again much of the resurgence of the industry cured under the Industrial Hemp Research pilot program established by the 2014 Farm Bill since the programs and acne in 2014 the number of approved acres in Kentucky increased from 920 - two to over 50000 in 2018. Sales of hemp products were three and a half times more than the previous year, the 2018 farm Bill Further and fully legalized industrial hemp ending 80 years of probation of the plants Hemp is now completely exempt from the Controlled Substances Act Despite these positive steps forward hemp businesses still have trouble accessing financial services like Bank accounts loans and payment processing This bill will provide additional clarity for banks insurance companies and card processors that they can in fact do business with legally operating hemp businesses It would also direct our federal financial regulators to issue joint guidance to financial institutions on how to serve hemp and CBD businesses without legal risk There is amazing potential for Hemp and hemp derive products One farmer. My district has an exclusive deal with Patagonia to provide him for farming Toyota who has the largest manufacturing facility in my district is exploring the use of hemp for car interiors Hemp farmers in my district are cultivating him to produce products ranging from neutral surgical dietary supplements, pharmaceuticals cosmetics apparel, footwear fat footwear, passion and even industrial products and construction materials but for him, producers and businesses to fully scale up and take advantage of the deschedule under the farm bill They need access to financial services again. I wanna thank my friend from Colorado for working with me in a bipartisan way and I urge gentleman for HR 1590