Fed grants conditional approval to pot-focused CU serving
The Wall Street Journal is reporting that the Federal Reserve Bank of Kansas City has granted conditional approval to a Colorado credit union to serve marijuana businesses.
To win the approval of the Federal Reserve Bank of Kansas City, Four Corner Credit Union had to modify its business plan to only serve individuals and companies that support legalized marijuana, not state-licensed dispensaries.
Four Corner Credit Union sued the Federal Reserve Bank of Kansas City three years ago.
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