Yes. Yes it is.
Let me put it this way: Setting up a corporation is trivial.
Setting up a bank account can be a literally insurmountable hurdle for a business that is not based in the US.
Banks can choose to let individuals and businesses open new accounts purely within their discretion, and as often as not they want the business owners to be physically present with their identification in order to open accounts.
This is a constant pain in the neck.
Most banks will be risk averse and will not open an account to anyone applying online from abroad. Even for US persons applying online, they will ask quite a bit of documentation.
Some banks (but not all) will open an account for a non-US person, when the non-US person physically visits a US branch, with proper identification (typically a passport) and documentation on why they want the account. But even in such cases, it is up to the discretion of the bank employee to decide whether the risk of opening an account for a non-US person is worth the benefit. So, the same bank may give different replies to the same inquiry, depending on the branch asked.
As a concrete example, TD Ameritrade will open easily an account for a foreigner in the Chinatown branch in NYC, but will not open an account when the same customer visits a branch in midtown in NYC.