Colo. Pot Credit Union Loses Bid For Key Account

Law360, New York (January 6, 2016, 12:52 PM EST) -- A federal judge in Denver on Tuesday rejected a Colorado credit union’s bid to force the Federal Reserve Bank of Kansas City to grant it a key account despite its mission to serve the state’s legal marijuana businesses, noting that the current conflict between state and federal marijuana laws is "untenable."

U.S. District Judge R. Brooke Jackson said that the situation where marijuana businesses that operate in states where the drug is legal are unable to get access to banking services because marijuana is still illegal...
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