“One of Seattle’s oldest credit unions has stepped up to serve the pot industry—and inadvertently test the limits of state versus federal authority as the state attempts to create an above-board recreational marijuana industry.  Other banks and credit unions have uniformly rejected pot-related businesses, because marijuana is on the federal list of illegal drugs, and a bank that handles marijuana revenue could look like a money launderer. On the other hand, it is a business opportunity.  Verity’s interpretation of the banking rules does push the boundaries a bit, and highlights the tension between state and federal laws.”

http://www.kplu.org/post/local-credit-union-tries-being-banker-pot-industry

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