Colorado credit union wins ruling against Kansas City Fed
A Colorado credit union aiming to serve cannabis businesses won a partial victory Thursday after a U.S. appeals court ruled the Federal Reserve Bank of Kansas City cannot block access to a special account Fourth Corner Credit Union needs to do business.
The decision is at least a symbolic triumph for the upstart credit union. In a 2-1 decision, the 10th U.S. Circuit Court of Appeals in Denver ruled that Fourth Corner can serve only supporters of MJ legalization – but not licensed cannabis or hemp businesses – as as long as the Controlled Substances Act is intact.
Colorado credit union wins ruling against Kansas City Fed is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs