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

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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Pot Risk vs. Profit: Bankers Cautious of Marijuana Dispensaries

Interior of the Euflora dispensary in downtown Denver. Image: WeedWorthy.com
Clarissa Cooper and Michael Bodley ~ Carnegie-Knight News21 initiative via NBCNews.com ~
 
DENVER — Every month, Jamie Perino hires a security detail to come to her three recreational marijuana dispensaries. They stop by, collect thousands of dollars in cash and head out to deliver the money to the state, county and city.
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KC Fed finds itself at the center of marijuana debate

The Federal Reserve Bank of Kansas City is the target of a lawsuit filed by a credit union seeking to serve the marijuana industry. Image: Dave Kaup/KCBJ
 
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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