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Fourth Corner Credit Union, The v. Federal Reserve Bank of Kansas City
Case Number:
1:15-cv-01633
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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January 15, 2016
Colo. Pot Credit Union Takes Key Account Suit To 10th Circ.
A Colorado credit union that recently lost its bid to force the Federal Reserve Bank of Kansas City to grant it a key account despite its plan to serve the state’s legal marijuana businesses has taken its case to the Tenth Circuit, saying the district court failed to rule on certain matters.
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January 06, 2016
Colo. Pot Credit Union Loses Bid For Key Account
A federal judge in Denver has 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."
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October 23, 2015
Kansas City Fed Rejects Colorado Pot Credit Union
The Federal Reserve Bank of Kansas City has 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.
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October 08, 2015
Colo. Pot Credit Union Says No Trial Needed In KC Fed Case
A Colorado credit union formed to serve the state's booming legal marijuana industry asked a federal judge on Wednesday to order the Federal Reserve Bank of Kansas City to provide it with access to a key bank account without going to trial.
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September 11, 2015
Kansas City Fed Says Pot Credit Union Can't Have Account
The Federal Reserve Bank of Kansas City said Thursday that a suit seeking to force it to provide a vital account to a Colorado credit union chartered to serve that state's marijuana industry should be dismissed because aiding and abetting marijuana sales remains a federal crime.
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July 31, 2015
Credit Union's Suit Could Open Up Banking For Pot Business
A Colorado credit union's lawsuit against the Federal Reserve Bank of Kansas City over the denial of a vital account could help bring more clarity for financial institutions interested in providing services to legal marijuana businesses if it can survive early hurdles, experts say.