Bank of America Closes Cannabis Researcher’s Accounts

Spread the love

<![CDATA[

A cannabis researcher who has fought against the U.S. Drug Enforcement Administration (DEA) has a new battle to fight after Bank of America closed her institute’s account.

Dr. Sue Sisley, president of Scottsdale Research Institute (SRI), has been conducting FDA-approved trials to evaluate cannabis as a medical treatment for military veterans and terminally ill patients. She took to Twitter Oct. 15 to share that Bank of America closed the institute’s account, potentially threatening the future of her study.

“Bank of America closes down account of Federally-licensed cannabis researcher,” Sisley wrote. “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.”

RELATED: Cannabis Conference 2021 Keynote: ‘Sue‘n The DEA: The Story of a Cannabis Research Breakthrough’

The bank notified Sisley in an Oct. 12 letter that it would be closing the account, according to a Law360 report. Bank of America directed SRI to stop writing checks and to cancel any recurring payments within three weeks.

While the letter did not provide an explanation for the closure, it said that the decision to shutter the account was reached “after a careful review of your banking relationship,” Law360 reported. The letter also stated that “this decision is final and won’t be reconsidered,” leaving Sisley with little to no recourse.

Sisley told Law360 that she had been banking with Bank of America for 10 years and that the bank was aware that SRI is a federally authorized “plant-touching” institution.

In June, SRI received DEA approval to grow its own cannabis and provide it to other researchers, Law360 reported, adding that Sisley told Bank of America about this development.

The DEA approval came after Sisley and SRI sued the agency in 2019 after SRI’s 2016 application to grow its own cannabis for the ongoing study was ignored.

RELATED: Federal Court Orders DEA to Explain Why It Has Ignored Cannabis Cultivation Applications

At that time, the University of Mississippi was the only organization federally licensed to grow cannabis for medical research in the U.S., and Sisley cited the poor quality of the cannabis as a reason for SRI wanting to cultivate its own.

Sisley told Law360 that there are “numerous other banks ready to do business with SRI,” and that she expects the institute’s research to continue uninterrupted, despite this setback.

Sisley was not immediately available to provide comment to Cannabis Business Times and Cannabis Dispensary, and Bank of America did not respond to a request for comment by the time of publication.

Sisley’s situation is all too familiar for many in the cannabis space, as many banks refuse to work with the federally illegal industry.

In 2017, for example, PNC closed Marijuana Policy Project’s accounts, and in 2018, Wells Fargo called Steep Hill Alaska’s loan.

These recurring instances continue to highlight the need for banking reform in the industry, which could be offered through legislation like the Secure and Fair Enforcement (SAFE) Banking Act. That bill, which has passed the U.S. House four times—most recently as part of a defense spending package—would provide a safe harbor for financial institutions that provide banking services to legitimate cannabis-related businesses, such as SRI.

Schaka

Related Posts

Cannabidiol Induces Cell Death in Human Lung Cancer Cells and Cancer Stem Cells

Cannabidiol Does Not Cause Significant Changes to Working Memory Performance in the N-Back Task

Vasoprotective Endothelial Effects of Chronic Cannabidiol Treatment and Its Influence on the Endocannabinoid System in Rats with Primary and Secondary Hypertension

Cannabidiol Suppresses Angiogenesis and Stemness of Breast Cancer Cells by Downregulation of Hypoxia-Inducible Factors-1alpha

Signez la pétition !!!

 

846 signatures

Pétition ASBL Cannabis Belgique

Pourquoi une pétition ?

Nous sommes des personnes qui en avons assez de devoir aller dans la rue et avoir affaire à des réseaux criminels sans savoir où cela va nous conduire par après.

Nous sommes des personnes ayant des maladies, qui pour certaines sont rares, et utilisant pour médication le cannabis sous diverses formes (CBD,THC,THCv,CBDa,,,) sous l'accord de notre médecin.

Nous sommes des personnes responsables et honnêtes qui avons une vie épanouie et sans problèmes de vie ou sociaux.

Nous avons également une passion pour la plante de cannabis en elle-même et la cultiver est notre bonheur. De plus, nous pouvons nous soigner avec notre médication sans avoir peur des produits ou autres additifs contenus dans une plante que l'on peut trouver autre part.

Nous souhaitons pouvoir avoir notre médicament dans les normes de la santé publique, car un cannabis sain aide à réduire les frais de santé parfois conséquents pour la collectivité et le malade lui-même.

Nous sommes également des personnes responsables avec un rôle dans la société qui en avons assez d’être considérés comme des « hippies ou autres drogués », nous avons juste choisi notre médication et celle-ci a apporté les preuves de son efficacité dans le monde.

Nous connaissons déjà les produits dérivés comme le CBD et le THC que nous maîtrisons pour nous aider dans notre maladie « Je précise que nous ne sommes pas médecin et que nous nous basons sur 20 ans d’expérience médicale du cannabis des membres de notre ASBL et l'avis du médecin de famille ».

Nous désirons simplement ne plus nous cacher, et pouvoir aider les autres personnes le souhaitant.

Nous somme soucieux des ados et de la prévention à leur égard. Effectivement, nous sommes les acteurs parfaits pour répondre aux questions qu’ils se posent vu notre expérience cannabique et, de plus, nous pourrons leur expliquer les risques qu’ils encourent en achetant du cannabis dans la rue.

Le projet complet peut être demandé via mail " info@mcb.care " et sur le site internet : " http://mcb.care "

@ASBL McB

**votre signature**

Partagez avec vos amis

Articles récents

Catégories