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Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife News Network.

U.S. Sen. Warren seeks to pull pot shops out of banking limbo – Cannabis News

BOSTON (AP) -- As marijuana shops sprout in states that have legalized the drug, they face a critical stumbling block - lack of access to the kind of routine banking services other businesses take for granted.

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U.S. Sen. Warren seeks to pull pot shops out of banking limbo – Cannabis News

BOSTON (AP) -- As marijuana shops sprout in states that have legalized the drug, they face a critical stumbling block - lack of access to the kind of routine banking services other businesses take for granted.

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Judge tosses Denver marijuana credit union's suit for federal approval – Marijuana News

Image: The Fourth Corner Credit Union

Forcing Federal Reserve to bank on pot credit union would give approval to criminal activity, federal judge says.

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Colorado's pot industry is a cash business. A small credit union wants to change that. – Marijuana News

Customers shop at the Grass Station dispensary in Denver. Because of federal banking regulations, Colorado's $700-million-a-year industry runs almost entirely on cash. Image: Brennan Linsley, Associated Press via Los Angeles Times

Calling itself the "littlest David" battling the "biggest Goliath," a fledgling Colorado credit union took the Federal Reserve to court Monday in a case that may determine whether the cannabis industry will bank openly or continue to operate almost entirely in cash.

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Fed wants Denver marijuana credit union lawsuit snuffed out

Fourth Corner Credit Union building in Denver.File Image: David Zalubowski, AP
 
The Federal Reserve Bank of Kansas City has asked a federal judge in Colorado to dismiss a lawsuit filed against it by a Denver-based credit union that wants to provide financial services to the marijuana industry.
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Feds Block Push by Colorado to Create Pot Bank

File image of the Fourth Corner Credit Union building in Denver. AP Photo/David Zalubowski
Kristen Wyatt ~ Associated Press
 
DENVER (AP) -- Colorado's attempt to create a bank to service its marijuana industry has received a setback from the Federal Reserve.
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The marijuana banking dilemma

Mark Goldfogel with The Fourth Corner Credit Union speaks at the National Cannabis Summit. Image: WeedWorthy.com
Bruce Kennedy ~ WeedWorthy ~
 
Denver’s Fourth Corner Credit Union launched last year as an answer to the legal marijuana industry’s inability to access financial institutions. But the Fed had other plans.
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Blossoming Denver-based marijuana credit union denied by Feds; suit filed

U.S. Federal Reserve System Seal. Image via Wikimedia Commons
Kieran Nicholson ~ Denver Post ~
 
A Denver-based credit union aiming to become the first of its kind — one created to serve the Colorado marijuana industry — has suffered a setback.
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