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Cannabis credit union in Denver sues Federal Reserve over rejection

first_img 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr A cannabis-centric credit union is going after the Federal Reserve after its application to open a “master account” was rejected.Fourth Corner Credit Union (TFCCU) in Denver wants to be the first to provide financial services to the marijuana industry in Colorado, where recreational use of the drug is legal under state law.The credit union, which was quietly notified of its rejection in July, filed a lawsuit in federal court against the central banking system for the setback, the New York Times reported Thursday. It accuses the Fed of preventing “equal access” to the financial system.Mark Mason, an attorney from South Carolina, had a leading role in founding TFCCU, which cannot officially start business before securing an account.Mason said he was not surprised by the decision and thinks the Fed had been looking for reasons to reject the credit union’s application.“I felt all along like they were trying to figure out a way to deny our application,” Mason told the Times, adding that a “federal judge who is only concerned in applying the law can [now] make the decision.”Mason confirmed the lawsuit in an email to The Denver Postlater that night. continue reading »last_img read more

Women’s World Cup..

first_imgIndia shock England in opener after four run-outsENGLAND were stunned on the opening day of the Women’s World Cup, losing by 35 runs to India in Derby.Openers Smriti Mandhana (90) and Punam Raut (86) took advantage of some poor England bowling, before Mithali Raj (71) lifted India to 281-3.England stumbled to 67-3 in reply and though Fran Wilson made 81, she was run out brilliantly by Ekta Bisht and the hosts were bowled out for 246.England next play on Tuesday, against Pakistan in Leicester.That will represent a good opportunity to register a first victory, in an eight-team tournament where each side play each other before the semi-finals.However, an England defeat in that game, or the matches against Sri Lanka and South Africa that follow, would be a huge setback, with sterner tests against Australia, New Zealand and West Indies to follow.The Kiwis began their campaign with a routine nine-wicket victory over Sri Lanka.On this evidence, England will have to improve if they are to end a global trophy drought that dates back to 2009.They came unstuck against an inspired India side who are two places below them in the world rankings, in fourth, but showed more intent with the bat, more discipline with the ball and some electricity in the field.On an overcast morning, England looked to have gained an advantage by bowling first, but Mandhana and Raut, who was dropped three times, seized the initiative.England struggled with the bat as India took pace off the ball, playing ineffective sweeps until the hitting of Wilson and Katherine Brunt provided belated hope.Wilson, in only her seventh one-day international, may not have been playing but for Lauren Winfield being ruled out with a wrist injury.She joined Knight to rebuild after the England top order failed – among them Sarah Taylor, returning to an international cricket after a year away with an anxiety-related issue, who made 22.It was Knight who first raised the tempo, hitting two straight sixes before attempting a run to bowler Kaur and failing to beat the direct hit.When Wilson was joined by Brunt, they continued to show more willingness to hit the ball, building a stand of 62 in only seven overs.Sixty-eight runs were needed from the final nine overs, but Brunt was run out by Deepti Sharma’s direct hit from point, then Wilson fell to bowler Bisht’s incredible flick back on to the non-striker’s stumps and the game was up.(BBC Sport)last_img read more