Fourth Corner Makes Case for MJ Banking, Awaits Ruling
If R. Brooke Jackson was a congressman, he would rule in favor of banks that want to open accounts for marijuana businesses.
But at a hearing on Monday, Jackson told lawyers for the Fourth Corner Credit Union that he is a U.S. district court judge who must uphold existing federal laws that make it illegal for banks to serve cannabis-related clients.
Judge Jackson’s comments don’t bode well for the Colorado credit union, which filed a lawsuit in October asking the court to issue an injunction forcing the Federal Reserve Bank of Kansas City to let it open a master account so
Fourth Corner Makes Case for MJ Banking, Awaits Ruling is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs