Chase Closes Accounts Of Pot Entrepreneur Martin Tobias

WASHINGTON: After more than 20 years of banking with JPMorgan Chase, former Microsoft executive and marijuana entrepreneur Martin Tobias saw his business and personal accounts terminated this week.

Chase spokeswoman Patricia Wexler confirmed that both of Tobias’s accounts have been shut down, but as policy she would not give more details about his case.

“We are closely following federal guidance on this matter,” she said, explaining that the bank doesn’t work with marijuana businesses. “If we find out that someone is in the business after they have already been banking with us, then we take steps to close that account.”

Read full article @ CNBC

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