3.0.0 1200 2022-11-01T19:47:16Z 2022-11-05T19:24:41Z Senate S 2019-04-11 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2019-04-11T20:02:59Z SAFE Banking Act of 2019 116 1595 HR 2019-09-26 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS The Heroes Act 116 6800 HR 2020-07-23 Committee on Small Business and Entrepreneurship. Hearings held. Related bill CRS 2019-04-11 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2019-04-11 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 2019-04-11 True R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2019-04-11 True M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2019-04-11 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2019-04-11 True S001198 Sen. Sullivan, Dan [R-AK] Dan Sullivan R AK 2019-04-11 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2019-04-11 True P000603 Sen. Paul, Rand [R-KY] Rand Paul R KY 2019-04-11 True C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2019-04-11 True D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2019-04-11 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2019-04-11 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2019-04-11 True K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2019-04-11 True S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2019-04-11 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2019-04-11 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2019-04-11 True L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2019-04-11 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2019-04-11 True W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2019-04-11 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2019-04-11 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2019-04-11 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2019-04-11 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2019-04-30 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-05-02 False B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2019-05-02 False B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2019-05-13 False K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2019-05-14 False U000039 Sen. Udall, Tom [D-NM] TOM UDALL D NM 2019-05-14 False M001169 Sen. Murphy, Christopher [D-CT] Christopher Murphy D CT S. 2019-05-20 False S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2019-05-22 False W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2019-06-03 False T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2019-07-10 False S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2019-09-16 False D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2019-09-18 False H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2020-06-03 False Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Credit and credit markets Criminal investigation, prosecution, interrogation Drug trafficking and controlled substances Drug, alcohol, tobacco use Federal Reserve System Financial services and investments Fraud offenses and financial crimes Government liability Government studies and investigations Insurance industry and regulation Licensing and registrations Minority and disadvantaged businesses Organized crime Women in business Finance and Financial Sector 00 2019-04-11 Introduced in Senate 2019-10-17T20:20:22Z Secure and Fair Enforcement Banking Act of 2019 or the SAFE Banking Act of 2019

This bill generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate marijuana-related business. Specifically, the 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; (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; or (5) penalizing a depository institution for engaging in a financial service for such a business.

As specified by the bill, a depository institution or a Federal Reserve bank 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.

The Government Accountability Office must report on (1) access to financial services for minority-owned and women-owned marijuana-related businesses; and (2) the effectiveness of suspicious-transaction reports at finding engagement with organized criminal activity in jurisdictions that allow the cultivation, sale, or distribution of marijuana.

]]> SAFE Banking Act of 2019 Display Title SAFE Banking Act of 2019 Short Title(s) as Introduced SAFE Banking Act of 2019 Introduced in Senate IS Short Title(s) as Introduced Secure And Fair Enforcement Banking Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to create protections for depository institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-04-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1200is/xml/BILLS-116s1200is.xml 2019-04-11 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.