A Denver credit union that wants to offer banking services to marijuana businesses has received conditional approval from the Federal Reserve Bank of Kansas City.
The Fourth Corner Credit Union has been trying for years to set up a credit union that would bank marijuana businesses. It will focus on individuals and companies that support legalized marijuana, including those that partner vendors such as accountants and landlords, The Wall Street Journal reports.
But, it won't serve recreational or medical marijuana sellers — something it had set out to do back in 2014, when it received a state charter from the state's banking commissioner.
Fourth Corner Credit Union CEO Deirdra O'Gorman could not be reached today for comment.
Read more at the Denver Business Journal: http://bit.ly/2sit3Go