Although 30 states and the District of Columbia have legalized some form of cannabis, and 400 U.S. financial institutions provide accounts for marijuana-related businesses (MRBs), the federal government still classifies the drug as a [...]
The complex legal and political landscape with respect to marijuana banking continues to shift. At last count, 29 states and the District of Columbia (DC) have legalized medical marijuana. Eight states and DC have also [...]
After a 39-month legal battle, the Fourth Corner Credit Union, the nation’s first state-chartered marijuana credit union, finally received a conditional approval by the Federal Reserve Bank of Kansas for a master account that [...]
Former CUSO employees are alleging that Partner Colorado Credit Union President/CEO Sundie Seefried, one of the industry’s pioneers in delivering financial services to marijuana businesses, used cocaine. They also claimed that her suspected [...]
Tony Gallo, managing partner of the Dallas-based Sapphire Risk Advisory Group, has been involved with retail businesses for more than 30 years and the cannabis industry for the last four. He suggests that financial institutions [...]
U.S. Attorney General Jeff Sessions has loomed as a threat to the legalized marijuana industry. But Sessions, at the helm of the U.S. Justice Department since February, hasn’t taken any overt action [...]
Credit unions looking to enter the cannabis banking market can now turn to a CUSO for help rolling out and managing a cannabis banking program – something that is known to be a labor-intensive, compliance-heavy task. [...]
Cannabis is enjoying a major public-image improvement. After all, we’ve learned that the THC in marijuana has medicinal uses, while the plant fibers in hemp have countless uses in manufacturing. The legitimacy of marijuana [...]
After reading the federal expectations and guidelines on how financial institutions could offer banking services to marijuana businesses, Jennifer Roberts, COO of the $207 million Obee Credit Union, never expected the Tumwater, Wash.-based cooperative [...]
Anyone in a credit union considering offering banking services to marijuana businesses should take the time to make sure that their attorney is paying close attention to litigation between the Federal Reserve Bank of Kansas [...]
The Fourth Corner Credit Union's President/CEO Deirdra O'Gorman joins us to discuss the latest news regarding its compliance status and its lawsuits with the NCUA and the Federal Reserve Bank of Kansas City. But [...]
A cannabis-centric credit union is going after the Federal Reserve after its application to open a “master account” was rejected. Fourth Corner Credit Union (TFCCU) in Denver wants to be the first to provide financial [...]
by: Henry Meier As early as this week, New York is expected to take its next big step toward legalizing the distribution of marijuana for medical purposes. Its Department of Health is expected to announce [...]
by: Aaron Passman It's time for credit unions to get comfortable with serving the legal marijuana industry. That was the message at CUNA's America's Credit Union Conference/World Council of CUs (WOCCU) conference here Wednesday [...]
Here are some thoughts about whether it's high time or high crime. With the legalization of marijuana production and sale to varying degrees under the laws of several states, the ability of credit unions to [...]
