SAFE Banking Act
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in senate (May 17, 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.
What just happenedJun 8, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Who’s behind it
- Introduced in SenateMay 17, 2017
- Jun 8, 2017Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Banking, Housing, and Urban Affairs Committee - May 17, 2017IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - May 17, 2017IntroReferral10000
Introduced in Senate