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KC Fed finds itself at the center of marijuana debate
The Federal Reserve Bank of Kansas City finds itself in the middle of a heated debate about the legalization of marijuana, as the target of a lawsuit filed by a credit union seeking to serve the industry.
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The Kansas City Fed denied Fourth Corner Credit Union — a state-chartered credit union founded in Colorado in 2014 — a nine-digit routing transit number to create its master account. Because the credit union can't operate without that routing number, it filed suit Thursday in federal court.
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