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 ... PNC shutters marijuana group’s Ohio bank account is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs