Michigan-Based Credit Union Receives Cease-And-Desist Order Over Cannabis Banking
The U.S. National Credit Union Administration issued a cease-and-desist order in February to Live Life Federal Credit Union because it didn’t fulfill the required reporting policies in relation to its cannabis-related accounts, according to Crains Detroit Business. Credit unions must submit suspicious activity reports every quarter for all cannabis-related accounts, the report said. What Happened: Karla Haglund, CEO of Fraser-based Live Life, confirmed the credit union failed to meet t...
Karla Haglund Us National Credit Union Administration Financial Crimes Enforcement Network Live Life Federal Credit Union Union Administration Fraser Based Live Life
Source: benzinga.com