Friday, July 11, 2025
MWH
  • Home
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop
No Result
View All Result
  • Home
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop
No Result
View All Result
Marijuana with Hemp
No Result
View All Result
Home Business

Bank of America suddenly shuts down account of Marijuana Research Institute

Graham Cooper by Graham Cooper
October 19, 2021
in Business, Featured
Share on FacebookShare on Twitter
37

In a perfect example of the need for better banking rules, Bank of America sent a notice to Scottsdale Research Insitute, which is federally approved to study marijuana and psilocybin, that it would be shutting down their account in 30 days, and that the decision was final.

In May of this year, the DEA gave the Institute approval to be one of the first cultivators of marijuana used for federal research.

Sue Sisley, chief investigator at the Institute, told Marijuana Moment “We just wanted to expose wrongdoing of these big banks. [We want to] show the public that even federally legal operations are being unfairly targeted by these large banks who refuse to look at our federal regulatory documents.”

Sisley is most concerned that the bank provided “zero justification,” and just acted without warning.

“Maybe it was the mushrooms that freaked them out?”

Bank of America closes down account of Federally-licensed cannabis researcher. SRI conducts FDA approved controlled trials evaluating cannabis as medicine for treating pain/PTSD in military veterans & terminally ill patients this TRAGICALLY shuts down our research @BankofAmerica pic.twitter.com/Q0a2nFvIIX

— Sue Sisley, MD (@suesisleymd) October 16, 2021

Thankfully, Sisley states that they have been getting offers from other banks looking to fill to void left by Bank of America.

Overall, the amount of banks that work with with marijuana businesses remain steady over the years, and that likely won’t change until protections come from Congress.

Read the original story at Marijuana Moment.

Visits: 2324
Previous Post

Safe Injection Site Case Rejected by the Supreme Court

Next Post

Some Activists dressed as Apes and put up a Monolith for Drug Stance Evolution

Graham Cooper

Graham Cooper

Next Post
Some Activists dressed as Apes and put up a Monolith for Drug Stance Evolution

Some Activists dressed as Apes and put up a Monolith for Drug Stance Evolution

ADVERTISEMENT
  • Former NBA Player Smoked Cannabis Before Interviewing Kamala Harris

    Former NBA Player Smoked Cannabis Before Interviewing Kamala Harris

    0 shares
    Share 0 Tweet 0
  • Where is marijuana on the ballot in November?

    0 shares
    Share 0 Tweet 0
  • Doordash gets into the Weed Delivery Business

    0 shares
    Share 0 Tweet 0
  • Kamala Harris Didn’t Talk With Rogan About Legalization, She Should Have

    0 shares
    Share 0 Tweet 0
  • Barstool Sports Delves Into the Realm of Cannabis

    0 shares
    Share 0 Tweet 0
  • Trending
  • Comments
  • Latest
New Jersey To Open Cannabis Lounge Applications In Coming Months

New Jersey To Open Cannabis Lounge Applications In Coming Months

March 5, 2025
Study Finds that Psychedelics Allow People  to Perceive Consciousness in More Parts of the World

Study Finds that Psychedelics Allow People to Perceive Consciousness in More Parts of the World

April 26, 2022
Ohio legalizes marijuana with a large majority and is immediately hit with backlash

Ohio legalizes marijuana with a large majority and is immediately hit with backlash

0
New Studies Show Increased Of Heart Disease If You Consume Cannabis

New Studies Show Increased Of Heart Disease If You Consume Cannabis

0
Texas Becomes 40th State to Legalize Medical Cannabis

Texas Becomes 40th State to Legalize Medical Cannabis

July 9, 2025
Marijuana Rescheduling Still In Limbo, Here’s the Latest

Marijuana Rescheduling Still In Limbo, Here’s the Latest

July 9, 2025
ADVERTISEMENT
Marijuana with Hemp

Browse by Category

  • Business
  • Featured
  • Hemp Politics
  • Latest News
  • Lifestyle
  • Medical
  • Medical Marijuana
  • Politics

Recent News

Texas Becomes 40th State to Legalize Medical Cannabis

Texas Becomes 40th State to Legalize Medical Cannabis

July 9, 2025
Marijuana Rescheduling Still In Limbo, Here’s the Latest

Marijuana Rescheduling Still In Limbo, Here’s the Latest

July 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 Marijuana With Hemp

No Result
View All Result
  • Home
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop

© 2024 Marijuana With Hemp