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A federally chartered credit union in Alaska has moved to sever ties with 10 personal accounts linked to individuals launching cannabis-related businesses.
The decision by the Alaska USA Federal Credit Union underscores the hurdles marijuana entrepreneurs continue to face when dealing with banks and credit unions. Alaska’s new recreational MJ market is attracting prospective entrants.
The Fairbanks Daily News-Miner reported the credit union took the unusual step of breaking ties with the personal account holders as a preemptive move – one aimed at heading off possible federal scrutiny over business ties to marijuana-related businesses. None of the businesses