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After a 40-month battle, a Colorado credit union that’s determined to serve marijuana-related companies has finally won conditional approval from the Federal Reserve to launch its business.
But the Fourth Corner Credit Union will not be serving plant-touching businesses – as it originally had planned to do – but will instead cater to advocacy groups, charities and ancillary companies such as accountants.
The Federal Reserve Bank of Kansas City informed The Fourth Corner Credit Union in a Feb. 2 letter that it would “conditionally grant” the Denver financial institution a so-called master account.
Fourth Corner Credit Union gets conditional approval from Federal Reserve for marijuana-related banking is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs