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The NCUA slapped a cease-and-desist order against the $69 million Live Life Federal Credit Union last month, ordering it to immediately stop opening new accounts for marijuana business members, discontinue operating a money services business program, and file suspicious activity reports.

The independent federal agency also ordered the Fraser, Mich.-based credit union to suspend transactions activity on its existing money services business accounts and hire a qualified third-party to perform a retrospective review of its MSB activity to identify suspicious transactions.

Peter Strozniak


Credit Union Times

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