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07-24-2019, 03:42 PM #1
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
Anyone that is supposedly offer a legal CBD Credit Card Processing they have to ignore a possible BRAM Violation:
At the annual 2019 MAC conference (Merchant Acquirers Committee), the Federal Trade Commission (FTC) declared that the commercial sale of CBD is "illegal".
An issue that the Federal Trade Commission has not properly addressed is a previous ruling by the Food and Drug Administration (FDA) which determined that CBD containing less than 0.30% THC by volume is legal in all 50 US states.
Immediately after the FTC announcement, Mastercard leadership stood up, and in front of about 500 risk managers declared the sale of CBD to be a BRAM (Business Risk Assessment and Mitigation) violation and ineligible for Mastercard processing.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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