Bank of America throws a wrench in the gears of a local cannabis organization

By David Abbott | Phoenix New Times

The Valley is home to one of the highest-profile cannabis research institutions in the U.S.: The Scottsdale Research Institute, founded and run by former University of Arizona professor Dr. Sue Sisley.

Earlier this year, SRI and the Multidisciplinary Association for Psychedelic Studies entered into an agreement with the Drug Enforcement Agency to grow high-quality cannabis for the Food and Drug Administration, receiving a blessing from the U.S. government to operate legally.

The agreement was a pretty big deal: As cannabis has been legalized in some form or other in a majority of states, the federal government has loosened its stance on research, but still only allows a handful of facilities to grow commercial-grade cannabis for study. SRI/MAPS was an early recipient of a license to grow.

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