Scottsdale Research Institute receives notification that its decision to close bank account is final and won't be reconsidered. Bank of America declines to...
Bank of America has notified the Scottsdale Research Institute that it will close its bank account next month, even though the firm’s cannabis research has been sanctioned by the federal government.
At last check, the tweet drew 55 comments, mostly criticizing Bank of America. Some people said they would cancel their credit cards with the bank.Sisley, a psychiatrist and president of Scottsdale Research Institute , included in her tweet a photo of her Controlled Substance Registration Certificate from the U.S. Drug Enforcement Administration. The SRI won the designation this year after a legal battle with the U.S. government for the right to produce cannabis for medical testing.
Sisley speculated that publicity around Scottsdale Research Institute’s addition of psychoactive mushrooms, or psilocybin, to its research may have prompted the bank’s action but the bank provided “zero justification.”
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