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S. 1152

SAFE Banking Act

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.

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

Sen. Merkley, Jeff [D-OR](D-OR)Sponsor
20 cosponsors15 D4 R1 I
20cosponsors1committees3actions1related bills10subjects
  1. Committee

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

    Banking, Housing, and Urban Affairs Committee
  2. IntroReferral

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  3. IntroReferral10000

    Introduced in Senate

SAFE Banking Act — Informed