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A bill to create protections for depository institutions that provide financial services to cannabis-related businesses, and for other purposes.

USA115th CongressS-1152| Senate 
| Updated: 6/8/2017
Jeff Merkley

Jeff Merkley

Democratic Senator

Oregon

Cosponsors (20)
Mazie K. Hirono (Democratic)Tammy Duckworth (Democratic)Dan Sullivan (Republican)Catherine Cortez Masto (Democratic)Patrick J. Leahy (Democratic)Edward J. Markey (Democratic)Elizabeth Warren (Democratic)Kamala D. Harris (Democratic)Heidi Heitkamp (Democratic)Rand Paul (Republican)Michael F. Bennet (Democratic)Patty Murray (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Al Franken (Democratic)Cory A. Booker (Democratic)Robert Menendez (Democratic)Cory Gardner (Republican)Ron Wyden (Democratic)Lisa Murkowski (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Secure and Fair Enforcement Banking Act or the SAFE Banking Act This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; or (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased or sold to such a business. As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing a loan or other financial services to a legitimate marijuana-related business.
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Timeline
May 17, 2017
Introduced in Senate
May 17, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 8, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Sep 21, 2017

Latest Companion Bill Action

HR 115-2215
Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
  • May 17, 2017
    Introduced in Senate


  • May 17, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • June 8, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.


  • September 21, 2017

    Latest Companion Bill Action

    HR 115-2215
    Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.

Finance and Financial Sector

Related Bills

  • HR 115-2215: To create protections for depository institutions that provide financial services to cannabis-related legitimate businesses, and for other purposes.
Bank accounts, deposits, capitalBanking and financial institutions regulationCivil actions and liabilityCredit and credit marketsCriminal investigation, prosecution, interrogationCriminal justice information and recordsDrug trafficking and controlled substancesFinancial services and investmentsFraud offenses and financial crimesGovernment information and archives

A bill to create protections for depository institutions that provide financial services to cannabis-related businesses, and for other purposes.

USA115th CongressS-1152| Senate 
| Updated: 6/8/2017
Secure and Fair Enforcement Banking Act or the SAFE Banking Act This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; or (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased or sold to such a business. As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing a loan or other financial services to a legitimate marijuana-related business.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 17, 2017
Introduced in Senate
May 17, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 8, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Sep 21, 2017

Latest Companion Bill Action

HR 115-2215
Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
  • May 17, 2017
    Introduced in Senate


  • May 17, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • June 8, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.


  • September 21, 2017

    Latest Companion Bill Action

    HR 115-2215
    Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
Jeff Merkley

Jeff Merkley

Democratic Senator

Oregon

Cosponsors (20)
Mazie K. Hirono (Democratic)Tammy Duckworth (Democratic)Dan Sullivan (Republican)Catherine Cortez Masto (Democratic)Patrick J. Leahy (Democratic)Edward J. Markey (Democratic)Elizabeth Warren (Democratic)Kamala D. Harris (Democratic)Heidi Heitkamp (Democratic)Rand Paul (Republican)Michael F. Bennet (Democratic)Patty Murray (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Al Franken (Democratic)Cory A. Booker (Democratic)Robert Menendez (Democratic)Cory Gardner (Republican)Ron Wyden (Democratic)Lisa Murkowski (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 115-2215: To create protections for depository institutions that provide financial services to cannabis-related legitimate businesses, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bank accounts, deposits, capitalBanking and financial institutions regulationCivil actions and liabilityCredit and credit marketsCriminal investigation, prosecution, interrogationCriminal justice information and recordsDrug trafficking and controlled substancesFinancial services and investmentsFraud offenses and financial crimesGovernment information and archives