PNC shutters marijuana group’s Ohio bank account

PNC has closed the bank account of another cannabis advocacy group, again underscoring that even non-plant-touching marijuana organizations can be shut out by financial institutions.

One of the nation’s largest financial services companies, Pittsburgh-based PNC recently shut down the account of the Ohio chapter of the National Organization for the Reformation of Marijuana Laws (NORML), the Cincinnati Enquirer reported.

According to the newspaper, NORML next approached five banks before locating a Wells Fargo branch willing to serve the group.

In June, PNC closed the accounts of the Marijuana Policy Project after an account audit showed that MPP received funding from plant-touching businesses.

The closing of the NORML account prevented the organization’s seven chapters from accessing funds, according to the Enquirer.

In addition, several of the group’s new chapters have struggled to open banking accounts, NORML National Political Director Justin Strekal told the newspaper.

The NORML and MPP account closures may only increase concerns the federal government may try to interfere with state-licensed medical and recreational marijuana programs.

“This is something coming from an understandable concern regarding the Trump administration and Attorney General Jeff Sessions’ open hostility to marijuana,” Strekal told the Enquirer.

Meanwhile, Marijuana Policy Project has found a new banking partner but declined to disclose the institution’s identity.

“We don’t want to bring them any unwanted attention,” MPP spokesman Morgan Fox told Marijuana Business Daily.

4 comments on “PNC shutters marijuana group’s Ohio bank account
  1. Michael Ribble on

    It always has been about controlling EVERYTHING. As long as we have control of oil and gas companies that only way to get out is to show them. HEMP WILL SAVE THE WORLD from Republicans and ignorance

    Reply
  2. Rick on

    Michael, as a Republican college grad, I support legalization as much as you do, but I would hesitate to smoke with you since you pre-judge people based on labels, and that is a downer. May I suggest for you a book called Life Seemed Good, But…. on Amazon. It will help you “lighten up.”

    Reply
  3. Andrew J. Collier on

    Enough with the idiotic political comments from liberals already. This was an issue long before we got this guy in the white house. Democrat or Republican, you can blame yourself. This guy taking power after 8 years of central government consolidation of power is one of the best arguments I can think of for Libertarianism. Big government leftists still don’t understand why we should all want limited government (hint: b/c you might not like the next guys admin.). If you’re in this industry and not a libertarian you’re not very bright.

    Reply
  4. Brian on

    The past is the past and the present is the present. Dems are voting nearly unanimously for legalization. Repubs are voting are against. I am indeed a libertarian but this administration’s crony capitalist organized crime family in charge will be worse for America than any lefty commie like Sanders or Stein. Or Obama for that matter.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *