Tag: cannabis credit union

California Committee Approves Bill to Establish Marijuana Banks and Credit Unions

Legislation that would allow for the creation of a special class of state-chartered banks and credit unions that could service California’s legal marijuana industry has been passed by a key Senate committee. Filed by Senator Robert Hertzberg (D), Senate Bill 930 was passed recently by the Senate Banking and Financial Institutions Committee in a 6 to 1 vote, …

Continue reading

Federal Reserve Gives Approval to Marijuana Credit Union to Service Marijuana-Related Businesses

Colorado’s Fourth Corner Credit Union has been given permission by the Federal Reserve of Kansas City to provide financial services to marijuana-related businesses. According to the Wall Street Journal, the Federal Reserve Bank of Kansas City granted conditional approval yesterday to Fourth Corner Credit Union to work with and provide financial services to marijuana-related businesses. The credit …

Continue reading