Judge Tosses Fourth Corner Banking Lawsuit

The marijuana industry’s hope for a solution to its banking woes suffered a major setback Tuesday when a federal judge dismissed a lawsuit filed by a startup financial institution hoping to serve cannabis companies.

The Fourth Corner Credit Union filed the suit last year after the Federal Reserve Bank of Kansas City denied its request for a master account.

Lending institutions can’t operate without master accounts, which given them access to the country’s banking system.

U.S. District…

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