3.0.0 1726 2023-01-11T13:30:10Z 2023-01-11T13:30:10Z Senate S 2015-07-09 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2015-07-09T17:34:40Z CARERS Act of 2015 114 1538 HR 2015-04-21 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. Related bill CRS Marijuana Businesses Access to Banking Act of 2015 114 2076 HR 2015-06-01 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. Related bill CRS Compassionate Access, Research Expansion, and Respect States Act of 2015 114 683 S 2015-03-10 Read twice and referred to the Committee on the Judiciary. (Sponsor introductory remarks on measure: CR S1385-1386) Related bill CRS 2015-07-09 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2015-07-09 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO 2015-07-09 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2015-07-09 True P000603 Sen. Paul, Rand [R-KY] Rand Paul R KY 2015-07-09 True W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2015-07-09 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2015-07-09 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2015-07-13 False S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2015-10-28 False R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. 2015-11-18 False H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV 2015-12-08 False M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2016-01-12 False S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2016-04-04 False Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Credit and credit markets Criminal investigation, prosecution, interrogation Criminal justice information and records Drug trafficking and controlled substances Financial services and investments Fraud offenses and financial crimes Government information and archives Finance and Financial Sector 00 2015-07-09 Introduced in Senate 2015-10-30T19:58:49Z Marijuana Businesses Access to Banking Act of 2015

This bill provides a safe harbor for depository institutions providing financial services to a marijuana-related legitimate business insofar as it prohibits a federal banking regulator from: (1) terminating or limiting the deposit or share insurance of a depository institution solely because it provides financial services to a marijuana-related legitimate business; or (2) prohibiting, penalizing, or otherwise discouraging a depository institution from offering such services.

A federal banking regulator may neither recommend, motivate, provide incentives, nor encourage a depository institution to refuse to offer financial services to an individual, nor downgrade or cancel financial services offered to an individual, solely because the individual: (1) is a manufacturer, producer, owner or operator of a marijuana-related legitimate business; or (2) the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business.

A federal banking regulator may not take any adverse or corrective supervisory action, solely because of the business involved, on a loan made to an owner or operator of: (1) a marijuana-related legitimate business, or (2) real estate or equipment that is leased to a marijuana-related legitimate business.

Immunity from federal criminal prosecution or investigation is granted, subject to certain conditions, to a depository institution that provides financial services to a marijuana-related legitimate business in a state or one of its political subdivisions that allows the cultivation, production, manufacture, sale, transportation, display, dispensing, distribution, or purchase of marijuana. Neither the depository institution nor its officers, directors, nor employees may be held liable under federal law or regulation solely for providing such financial services or further investing income derived from those services.

The Department of the Treasury must require any suspicious activity report filed by a financial institution regarding a marijuana-based business to comply with specified guidance of the Financial Crimes Enforcement Network.

Treasury must ensure that the guidance is consistent with the Marijuana Businesses Access to Banking Act of 2015 and does not inhibit the provision of financial services to a marijuana-related legitimate business in a state or local government that allows the cultivation, production, manufacturing, transportation, display, dispensing, distribution, sale, or purchase of marijuana.]]>

Marijuana Businesses Access to Banking Act of 2015 Display Title Marijuana Businesses Access to Banking Act of 2015 Official Title as Introduced A bill to create protections for depository institutions that provide financial services to marijuana-related businesses, and for other purposes. Introduced in Senate IS Short Titles as Introduced Marijuana Businesses Access to Banking Act of 2015 Introduced in Senate 2015-07-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s1726is/xml/BILLS-114s1726is.xml 2015-07-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.