Pot Industry's Bank Bid Rejected by Federal Regulators

The U.S. Treasury Department issued guidelines last year for how banks could accept pot money. But many large banks considered the guidelines onerous and still won't take deposits related to marijuana businesses, prompting Colorado banking regulators to set up a proposed credit union to comply with those guidelines.

Fourth Corner would have allowed pot shops and growers to access not just basic checking but also lines of credit and other financial products the expanding industry wants.