Uncle Sam's Bankers Are Starting to See Weed Our Way

I've got a quick update with some huge news for cannabis investors: Some of the clouds surrounding banking and marijuana-related companies have cleared. That's thanks to the recent end of a 40-month legal fight by Denver, Colo.-based Fourth Corner Credit Union to win favor with the Federal Reserve Bank of Kansas City. On Feb. 2, the Kansas City Fed gave conditional approval to Fourth Corner Credit Union to launch its business catering to cannabis-related companies. It's easy to see the upside for companies in the legal cannabis sector. You and I take access to banking for granted, but that service was largely unavailable to these firms who'd been forced into a cash-only existence, with all the hassles that entails. Banking still isn't wide open... yet. But to understand exactly how important this is, let's backtrack a little... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2018 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Uncle Sam's Bankers Are Starting to See Weed Our Way appeared first on Money Morning - We Make Investing Profitable .