Cannabis Credit Union Gets Go-Ahead from Federal Reserve - Cannabis News

After years of frustrations and legal struggles, there appears to be light on the horizon for Colorado’s embattled Fourth Corner Credit Union, the first financial institution created specifically to serve the legal cannabis industry.

Late Monday the Wall Street Journal reported that the Federal Reserve Bank of Kansas City had granted conditional approval for Fourth Corner to serve cannabis-related businesses.

However, according to the newspaper, the firm will not serve state-licensed marijuana dispensaries as originally planned, but will instead “focus on individuals and companies that support legalized marijuana.”

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Bruce Kennedy ~ Leafly.com ~