A Colorado credit union dedicated to serving the cannabis industry is one step closer to becoming fully operational. On Feb. 5, 2018, the Fourth Corner Credit Union was given conditional approval by the Federal Reserve Bank of Kansas City for a master account.
Tag Archives: Fourth Corner
If the legal marijuana industry has to go into a dirt fight about federal preemption, the results may not be favorable. But Fourth Corner’s stated goal is clarity.
On Jan. 5, 2016, in Denver, U.S. District Judge R. Brooke Jackson dismissed Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City.
On Dec. 28, 2015, the United States District Court for the District of Colorado heard oral arguments in Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City.
Fourth Corner has not opened, and it is not clear when it will. The problem is with the Federal Reserve master account.
One of the biggest issues facing the cannabis industry right now is money. It is not so much a lack of money, but rather what to do with it.