SunTrust Bank has drawn the ire of the medical cannabis world for terminating the account of a Tallahassee-based MMJ business group.
According to several tweets from Medical Marijuana Business Association of Florida, the association was notified last week by the Atlanta, GA-based national bank that their account would be terminated effective on April 18. The move comes despite the association having banked with SunTrust for over five years prior.
As a result of their decision, SunTrust has received criticism from many, including state politicians, who believe it was an anti-cannabis political statement.
“As we move forward on cannabis with an expansion of access to medical marijuana and a state hemp program, SunTrust’s policy shift is a move in the wrong direction,” said Commissioner of Agriculture Nikki Fried via Twitter.
“SunTrust just shutdown [sic] the MMBAFL’s bank account simply because they deal with medical cannabis. Shame on SunTrust!” tweeted State Rep. Carlos G. Smith.
MMBAFL, in turn, tweeted that they “WON’T stop fighting for YOU: the Patients, the Industry.”