Pot Shops’ Access To National Banking System Rests In Judge’s Hands | Fox31 Denver

Its hard to run a company with a bank account, much less without one, he said. Now a state-chartered credit union, built to serve the cannabis and hemp industry is trying to change that. Monday, in front of a Federal judge, Fourth Corner Credit Union argued to allow pot shots access to the nations banking system through the U.S. Federal Reserves Kansas City Branch. This is not a trial about the legality of marijuana. This is a trial about the ability of the Fed Reserve Branch of Kansas City to choose which state-chartered institutions are allowed in and which are not, said Fourth Corner Credit Unions Executive Vice President, Mark Goldfogel. Goldfogel says in 2016, marijuana related transactions are projected to top $1.2 billion. If most of those transactions are forced to be in cash its only a matter of time until there is real safety issues. Theres already been a number of robberies, said Goldfogel. Because of that, security is on everyones mind.

To read more visit http://kdvr.com/2015/12/28/pot-shops-access-to-national-banking-system-rests-in-judges-hands/