DENVER — Fred Joseph, a longtime regulator to Colorado's financial services industry, started 2014 as a free agent.

On Dec. 31, Joseph retired as the banking and securities commissioner for the state's Department of Regulatory Agencies. He had overseen the securities industry since 1999 and banking since 2011. During his short stint supervising banks, he made headlines in 2011 when the Federal Reserve Board had to step in to fail a state-charted bank.

Banking in Colorado is bound to be a hot topic in coming months as recreational marijuana aims to become a legitimate business here.

Joseph recently shared his views on banking and marijuana, the showdown with the Fed and other key industry topics. Click here for the full edited transcript.