Fourth Corner still trying to become first marijuana credit union
Credit union chartered by state of Colorado asks appeals court to look again at case demanding access to federal banking system
The Fourth Corner Credit Union on Friday appealed a lower court's ruling that denied its bid to become the first Colorado credit union for the marijuana industry.
U.S. District Judge R. Brooke Jackson in January dismissed Fourth Corner's suit seeking a master account with the Federal Reserve Bank of Kansas City. Jackson said granting access to the Federal Reserve's network would "facilitate criminal activity" because marijuana remains illegal under federal law.
"We don't believe that the courts can rule on the potential of breaking a law before any crime has been committed," Fourth Corner's executive vice president of industry relations Mark Goldfogel said.
Fourth Corner's brief was filed in the U.S. Court of Appeals for the 10th Circuit....
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