The Fourth Corner Credit Union in Denver aims to be the first to serve the expanding marijuana industry in Colorado
- It applied to the Federal Reserve for a "master account," which would allow it to interact with other financial institutions
- & to serve state-licensed marijuana businesses in Colorado
- But ... .The Fed's branch in Kansas City, which has been reviewing the application, has told the credit union it has not been approved for a master account
- Nearly all banks have refused to open accounts for the hundreds of marijuana businesses in Colorado and other states with similar laws
Seems rather harsh
More details here (unlike Dave, he's not here)
