Congressmen question DOJ settlement with big banks that encourage donations to 'activist groups.'
Examiners and impossible due diligence requirements blamed for closure of state-legal marijuana business accounts.
NCUA officials still won't reveal the net amount received from the JPMorgan settlement. But their excuse sounds credible.
NCUA officials still won't reveal the net amount received from the JPMorgan settlement. At least their excuse sounds credible.
Revealing the settlement's net gain could jeopardize ongoing negotiations with deep-pocketed Wall Street firms, NCUA's general counsel says.
Non-profit group Better Markets says the DOJ did not publicly reveal settlement details, and questions its constitutionality.
Despite a new state law in Colorado legalizing recreational use, credit unions still worry marijuana business accounts will run afoul of federal regulations.
While financial institutions wait for guidance from the DOJ, credit union leagues in Colorado and Washington caution against opening accounts for state-legal weed businesses.