MADISON (WKOW) — Hemp and CBD laws are still creating a gray area for some businesses. Conflicting federal and state laws are making some reconsider their involvement in the industry, but one group is clearing up those concerns.
The State Bar of Wisconsin held a panel discussion about the legal reality to grow, process and sell industrial hemp.
27 News first reported when some financial institutions dropped customers because of their confusion over hemp legality. Now lawyers are stepping up to provide clarity to their clients on how CBD products should be labeled, sold and purchased.
Panelists from Wisconsin law firms focused on the misinformation when labeling CBD or hemp products. Jeffrey Glazer of Ogden Glazer & Schaefer in Madison said many labels claim they cure disorders like anxiety or cancer, which he says is false advertising.
“Anyone can put anything they want on it, but some labels are more compliant than others,” said Glazer. “If it considers the product as medical or an exaggerated claim of efficacy that would be foul of the law.”
Currently, there is no universal label for customers to know if the product is legitimate or not. That’s an area Congress and lawmakers on the state level are hoping to clear up this year.
Last month, the Wisconsin Banker Association also held a discussion which helped financial institutions get more comfortable accepting industrial hemp customers.