This Recent Bank Development Could Signal Danger for Marijuana Stocks

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This Recent Bank Development Could Signal Danger for Marijuana Stocks

Flickr / Joe Wessels / (CC BY-ND 2.0)

One decision by a major bank could mean trouble in the not-too-distant future for marijuana stocks.

PNC Financial Services is shutting down the bank accounts for a major advocacy group for marijuana legalization, the Marijuana Policy Project (MPP). According to The Washington Post, Nick Field, MPP’s chief operating officer, was informed by a PNC Bank representative that MPP’s accounts were being shut down because the bank felt it was “too risky” to do business with the organization.

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