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A newly-created credit union in Colorado filed a suit against the NCUA and the Federal Reserve Bank of Kansas City – an action that might domino into a state law versus federal law showdown.

In a media release, The Fourth Corner Credit Union said it is the first state chartered credit union designed to provide financial services to the cannabis and hemp industries. TFCCU’s motto, according to its website, is “Growing a more perfect union.” That union may not be easy to come by, however, since TFCCU cannot open until it is granted a master account – something it was denied in July.

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