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Fourth Corner Credit Union gets conditional approval from Federal Reserve for marijuana-related banking

After a 40-month battle, a Colorado credit union that’s determined to serve marijuana-related companies has finally won conditional approval from the Federal Reserve to launch its business.

But the Fourth Corner Credit Union will not be serving plant-touching businesses – as it originally had planned to do – but will instead cater to advocacy groups, charities and ancillary companies such as accountants.

The Federal Reserve Bank of Kansas City informed The Fourth Corner Credit Union in a Feb. 2 letter that it would “conditionally grant” the Denver financial institution a so-called master account.

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Cannabis credit union hit with wrongful termination lawsuit that claims CEO used cocaine

A husband and wife who held key positions at a Colorado credit union that serves marijuana companies have filed a lawsuit claiming they were fired in part because one of them witnessed the company’s high-profile CEO using cocaine on several occasions, Marijuana Business Daily has learned. The wrongful termination suit lists Partner Colorado Credit Union, its CEO […]

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Week in Review: CA cannabis rollout hinders sales, Arizona mulls MMJ testing & Maine rules delayed

Scotts Miracle-Gro says California’s slow implementation of marijuana regulations is hurting sales, Arizona considers medical cannabis testing, and Maine’s governor delays MMJ regulations. Here’s a closer look at some notable developments in the marijuana industry over the past week. Scotts’ sales decline Scotts Miracle-Gro CEO James Hagedorn said California’s slow rollout of regulations has hindered […]

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Rob Kampia removed from National Cannabis Industry Association board

Rob Kampia, the embattled former chief of the Marijuana Policy Project, was removed from the board of directors of the National Cannabis Industry Association this week, Marijuana Business Daily has learned. Kampia’s ouster adds to recent turmoil at the NCIA and raises questions about the organization’s future. “NCIA’s Board of Directors voted to remove Rob […]

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Montana’s medical marijuana businesses are off and running

Montana’s medical marijuana businesses aren’t sitting on their hands.

In fact, it’s quite the opposite.

As 600-plus registered caregivers wait for state regulators to finalize industry regulations that were expected last June, many have taken steps to open dispensaries or even expand into retail chains for the first time.

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‘Decimated’ by oversupply, Oregon wholesale prices for outdoor-grown trim, flower for oil drop to $50 a pound

Oregon’s marijuana cultivators are facing a challenging environment that favors vertically integrated companies and craft cannabis.

Wholesale prices for outdoor-grown marijuana have dropped to as low as $50 a pound. 

These low wholesale prices refer to trim and to outdoor-grown flower sold to processors who make cannabis oil.

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20 people to watch in 2018

The cannabis industry is poised for huge growth in 2018 thanks in part to the expected launch of several massive new marijuana markets such as California and Canada, which will generate billions of dollars in sales and create tens of thousands of business opportunities.

The changing business climate will lead to new challenges, struggles and, potentially, failures for companies and the individuals behind them.

As we hurtle into 2018, the editorial staff at Marijuana Business Magazine – which is published by Marijuana Business Daily – singled out 20 executives in the cannabis space who bear watching in the year ahead.

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Week in Review: New Jersey explores MMJ expansion, California growers sue & rules violations in MA

New Jersey’s governor looks to improve the state’s medical marijuana program, California cannabis growers are suing the state over licensing, and Massachusetts MMJ inspections uncover numerous violations. Here’s a closer look at some notable developments in the marijuana industry over the past week. New Jersey MMJ expansion? The Garden State’s new governor certainly didn’t wait […]

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