Is the Country’s First Pot CU on its Last Breath?
It could be. Fourth Corner Credit Union, the first credit union chartered to serve the marijuana industry, had filed suit against the Federal Reserve Bank of Kansas for dragging its feet in approving a master account for the credit union, which is necessary for the credit union to open its doors. Now the reserve bank has filed a motion to dismiss the suit on the grounds that permitting the account would be tantamount to facilitating criminal activity. [10/26/15]