New law says marijuana financial cooperatives can not call themselves credit unions.
When marketing e-statements, solar loans, etc., environmental benefits must be backed by facts.
When marketing hybrid car loans and other eco-friendly products, environmental benefits must be backed up by facts.
The Honolulu FBI says three employees embezzled funds in similar ways from the $12M OTSEFCU, but did not collaborate.
Terri Maloney, president/CEO of the $18M Minnesota credit union, speaks on the topic at a local event.
Credit union groups paranoid DOJ could change its mind and reverse guidance that allows accounts for state-legal marijuana businesses.
Despite guidance from FInCEN and the DOJ, legal hurdles remain for state-legal marijuana business accounts.
WASHINGTON – The Colorado congressman said cash-only marijuana businesses risk robbery, assault, fraud and income tax evasion.
WASHINGTON–Minnesota-based retailer considered chip-and-PIN 10 years ago for Target Visa REDcards, but scrapped it.
Despite a new state law in Colorado legalizing recreational use, credit unions still worry marijuana business accounts will run afoul of federal regulations.