January 15, 2016
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.
January 06, 2016
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."
October 23, 2015
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.
October 08, 2015
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.
September 11, 2015
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.
July 31, 2015
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.