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Home 🌿 Marijuana Politics 🌿 Courts can't fix marijuana banking issues — Congress must act 🌿Courts can't fix marijuana banking issues — Congress must act
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The subscription service is currently unavailable. Please try again later.In an utterly predictable ruling, a federal judge recently dismissed a lawsuit that sought approval for the establishment of a credit union for marijuana businesses in Colorado.
Much as we favor such a credit union, why would anyone expect any other outcome?
Judges, after all, look at issues through the lens of the law. And while marijuana continues to gain footholds as a legal drug on the state level, at the federal level it remains an illegal substance. What else was the judge to do?
U.S. District Court Judge R. Brooke Jackson expressed sympathy for pot businesses struggling under the current system, but in his order he said the courts simply could not “look the other way.”
Colorado created Fourth Corner Credit Union last year with the intention of serving the marijuana industry.
An estimated 40 percent of Colorado marijuana businesses are without a bank, which means hundreds...
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