We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Kansas City Fed Rejects Colorado Pot Credit Union

Law360, New York (October 23, 2015, 3:02 PM EDT) -- The Federal Reserve Bank of Kansas City on Wednesday said that it would not accept deposits from or set up a key account for a Colorado credit union created to service the state’s legal marijuana industry because the drug remains illegal under federal law.

The Kansas City Fed said in a filing in federal district court in Denver that even though the state of Colorado granted the Fourth Corner Credit Union a charter to operate and serve the state’s legal marijuana industry, the credit union was still engaged in activity that was in violation of federal law and is thus barred...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Colorado

Nature of Suit

Banks and Banking

Judge

Subscribers Only

Date Filed

July 30, 2015

Law Firms

Companies

Government Agencies