3.0.0
2860
2025-01-14T18:20:21Z
2025-01-14T18:24:11Z
Senate
S
S
2023-09-20
118
- ssbk00
Banking, Housing, and Urban Affairs Committee
Senate
Standing
  - Hearings By (full committee)
2023-12-06T18:59:09Z
  - Reported By
2023-09-28T15:36:53Z
  - Markup By
2023-09-27T13:30:00Z
  - Referred To
2023-09-20T16:14:27Z

- SAFE Banking Act of 2023
118
2891
HR
2023-05-03
Referred to the Subcommittee on Economic Opportunity.
  - Related bill
CRS

- SAFE Banking Act of 2023
118
1323
S
2023-05-11
Committee on Banking, Housing, and Urban Affairs. Hearings held.
  - Related bill
CRS
- 2023-12-06
  - ssbk00
Banking, Housing, and Urban Affairs Committee
Senate
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committee
- 2023-09-28
Senate
Placed on Senate Legislative Calendar under General Orders. Calendar No. 215.
Calendars
- 2023-09-28
  - ssbk00
Banking, Housing, and Urban Affairs Committee
Senate
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Brown with amendments. Without written report.
Committee
- 2023-09-28
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Brown with amendments. Without written report.
Committee
14000
9
Library of Congress
  - ssbk00
Banking, Housing, and Urban Affairs Committee
- 2023-09-27
  - ssbk00
Banking, Housing, and Urban Affairs Committee
Senate
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with amendments favorably.
Committee
- 2023-09-20
  - ssbk00
Banking, Housing, and Urban Affairs Committee
Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
IntroReferral
- 2023-09-20
Introduced in Senate
IntroReferral
10000
9
Library of Congress
- M001176
Sen. Merkley, Jeff [D-OR]
Jeff
Merkley
D
OR
N
- D000618
Sen. Daines, Steve [R-MT]
Steve
Daines
R
MT
2023-09-20
True
- S000148
Sen. Schumer, Charles E. [D-NY]
Charles
Schumer
D
NY
E.
2023-09-20
True
- S001191
Sen. Sinema, Kyrsten [I-AZ]
Kyrsten
Sinema
I
AZ
2023-09-20
True
- L000571
Sen. Lummis, Cynthia M. [R-WY]
Cynthia
Lummis
R
WY
M.
2023-09-20
True
- C001096
Sen. Cramer, Kevin [R-ND]
Kevin
Cramer
R
ND
2023-09-20
True
- B001288
Sen. Booker, Cory A. [D-NJ]
Cory
Booker
D
NJ
2023-09-20
True
- S001198
Sen. Sullivan, Dan [R-AK]
Dan
Sullivan
R
AK
2023-09-20
True
- M000639
Sen. Menendez, Robert [D-NJ]
Robert
Menendez
D
NJ
2023-09-20
True
- K000383
Sen. King, Angus S., Jr. [I-ME]
Angus
King
I
ME
S.
2023-09-20
True
- W000779
Sen. Wyden, Ron [D-OR]
Ron
Wyden
D
OR
2023-09-20
True
- R000608
Sen. Rosen, Jacky [D-NV]
Jacklyn
Rosen
D
NV
2023-09-20
True
- F000479
Sen. Fetterman, John [D-PA]
John
Fetterman
D
PA
K.
2023-09-20
True
- W000817
Sen. Warren, Elizabeth [D-MA]
Elizabeth
Warren
D
MA
A.
2023-09-26
False
- T000464
Sen. Tester, Jon [D-MT]
Jon
Tester
D
MT
2023-09-26
False
- C001113
Sen. Cortez Masto, Catherine [D-NV]
Catherine
Cortez Masto
D
NV
2023-09-26
False
- D000622
Sen. Duckworth, Tammy [D-IL]
Tammy
Duckworth
D
IL
2023-09-26
False
- S001203
Sen. Smith, Tina [D-MN]
Tina
Smith
D
MN
2023-09-26
False
- K000377
Sen. Kelly, Mark [D-AZ]
Mark
Kelly
D
AZ
2023-09-26
False
- K000367
Sen. Klobuchar, Amy [D-MN]
Amy
Klobuchar
D
MN
2023-09-26
False
- G000555
Sen. Gillibrand, Kirsten E. [D-NY]
Kirsten
Gillibrand
D
NY
E.
2023-09-26
False
- M001111
Sen. Murray, Patty [D-WA]
Patty
Murray
D
WA
2023-09-26
False
- H001042
Sen. Hirono, Mazie K. [D-HI]
Mazie
Hirono
D
HI
K.
2023-09-26
False
- H001046
Sen. Heinrich, Martin [D-NM]
Martin
Heinrich
D
NM
T.
2023-09-28
False
- P000595
Sen. Peters, Gary C. [D-MI]
Gary
Peters
D
MI
2023-09-28
False
- B001267
Sen. Bennet, Michael F. [D-CO]
Michael
Bennet
D
CO
2023-09-30
False
- C001088
Sen. Coons, Christopher A. [D-DE]
Christopher
Coons
D
DE
A.
2023-10-03
False
- K000384
Sen. Kaine, Tim [D-VA]
Timothy
Kaine
D
VA
M.
2023-10-03
False
- H000273
Sen. Hickenlooper, John W. [D-CO]
John
Hickenlooper
D
CO
W.
2023-10-04
False
- L000570
Sen. Lujan, Ben Ray [D-NM]
Ben
Lujan
D
NM
R.
2023-10-04
False
- S000770
Sen. Stabenow, Debbie [D-MI]
Debbie
Stabenow
D
MI
2023-10-04
False
- B001230
Sen. Baldwin, Tammy [D-WI]
Tammy
Baldwin
D
WI
2023-10-18
False
- S000033
Sen. Sanders, Bernard [I-VT]
Bernard
Sanders
I
VT
2023-11-01
False
- S001194
Sen. Schatz, Brian [D-HI]
Brian
Schatz
D
HI
2023-11-01
False
- P000145
Sen. Padilla, Alex [D-CA]
Alex
Padilla
D
CA
2023-11-01
False
- C000127
Sen. Cantwell, Maria [D-WA]
Maria
Cantwell
D
WA
2024-02-28
False
- M001153
Sen. Murkowski, Lisa [R-AK]
Lisa
Murkowski
R
AK
2024-07-11
False
- 2024-09-27T18:26:00Z

S. 2860, SAFER Banking Act
https://www.cbo.gov/publication/60785
As reported by the Senate Committee on Banking, Housing, and Urban Affairs on September 28, 2023
Finance and Financial Sector
- Administrative law and regulatory procedures
2024-08-15T18:29:04Z
- Asia
2024-08-15T18:29:04Z
- Bank accounts, deposits, capital
2024-08-15T18:29:04Z
- Banking and financial institutions regulation
2024-08-15T18:29:04Z
- Business records
2024-08-15T18:29:04Z
- Congressional oversight
2024-08-15T18:29:04Z
- Consumer affairs
2024-08-15T18:29:04Z
- Credit and credit markets
2024-08-15T18:29:04Z
- Criminal investigation, prosecution, interrogation
2024-08-15T18:29:04Z
- Department of the Treasury
2024-08-15T18:29:04Z
- Drug trafficking and controlled substances
2024-08-15T18:29:04Z
- Drug, alcohol, tobacco use
2024-08-15T18:29:04Z
- Evidence and witnesses
2024-08-15T18:29:04Z
- Federal Deposit Insurance Corporation (FDIC)
2024-08-15T18:29:04Z
- Federal Reserve System
2024-08-15T18:29:04Z
- Financial services and investments
2024-08-15T18:29:04Z
- Fraud offenses and financial crimes
2024-08-15T18:29:04Z
- Government information and archives
2024-08-15T18:29:04Z
- Government liability
2024-08-15T18:29:04Z
- Government studies and investigations
2024-08-15T18:29:04Z
- Insurance industry and regulation
2024-08-15T18:29:04Z
- Iran
2024-08-15T18:29:04Z
- Judicial procedure and administration
2024-08-15T18:29:04Z
- Licensing and registrations
2024-08-15T18:29:04Z
- Middle East
2024-08-15T18:29:04Z
- Minority and disadvantaged businesses
2024-08-15T18:29:04Z
- National Credit Union Administration
2024-08-15T18:29:04Z
- North Korea
2024-08-15T18:29:04Z
- Organized crime
2024-08-15T18:29:04Z
- Syria
2024-08-15T18:29:04Z
- Terrorism
2024-08-15T18:29:04Z
- Women in business
2024-08-15T18:29:04Z
Finance and Financial Sector
2023-09-25T13:15:25Z
00
2023-09-20
Introduced in Senate
2023-10-02T16:50:01Z
Secure And Fair Enforcement Regulation Banking Act or the SAFER Banking Act
This bill provides protections for federally regulated financial institutions that serve state-sanctioned marijuana businesses. Currently, many financial institutions do not provide services to state-sanctioned marijuana businesses due to the federal classification of marijuana as a Schedule I controlled substance.
Under the bill, a federal banking regulator may not penalize a depository institution for providing banking services to a state-sanctioned marijuana business. For example, regulators may not terminate or limit the deposit or share insurance of a depository institution solely because the institution provides financial services to a state-sanctioned marijuana business.
The bill also prohibits a federal banking regulator from requesting or requiring a depository institution to terminate a deposit account unless (1) there is a valid reason, such as the regulator has cause to believe that the depository institution is engaging in an unsafe or unsound practice; and (2) reputational risk is not the dispositive factor.
Additionally, proceeds from a transaction involving activities of a state-sanctioned marijuana business are no longer considered proceeds from unlawful activity. (Financial institutions that handle proceeds from unlawful activity are subject to anti-money laundering laws. Violators of these laws are subject to fines and imprisonment.)
Furthermore, a financial institution, insurer, or federal agency may not be held liable or subject to asset forfeiture under federal law for providing a loan, mortgage, or other financial service to a state-sanctioned marijuana business.
25
2023-09-28
Reported to Senate
2023-10-16T16:37:36Z
Secure And Fair Enforcement Regulation Banking Act or the SAFER Banking Act
This bill provides protections for federally regulated financial institutions that serve state-sanctioned marijuana businesses. Currently, many financial institutions do not provide services to state-sanctioned marijuana businesses due to the federal classification of marijuana as a Schedule I controlled substance.
Under the bill, a federal banking regulator may not penalize a depository institution for providing banking services to a state-sanctioned marijuana business. For example, regulators may not terminate or limit the deposit or share insurance of a depository institution solely because the institution provides financial services to a state-sanctioned marijuana business.
The bill also prohibits a federal banking regulator from requesting or requiring a depository institution to terminate a deposit account unless (1) there is a valid reason, such as the regulator has cause to believe that the depository institution is engaging in an unsafe or unsound practice; and (2) reputational risk is not the dispositive factor.
Additionally, proceeds from a transaction conducted by a state-sanctioned marijuana business are no longer considered proceeds from unlawful activity. (Financial institutions that handle proceeds from unlawful activity are subject to anti-money laundering laws. Violators of these laws are subject to fines and imprisonment.)
Furthermore, a financial institution, insurer, or federal agency may not be held liable or subject to asset forfeiture under federal law for providing a loan, mortgage, or other financial service to a state-sanctioned marijuana business.

SAFER Banking Act
- Display Title
45

SAFER Banking Act
2024-07-13T11:03:17Z
- Short Title(s) as Introduced
101

SAFER Banking Act
2024-05-24T13:36:26Z
Introduced in Senate
IS
- Short Title(s) as Introduced
101

Secure And Fair Enforcement Regulation Banking Act
2024-05-24T13:36:26Z
Introduced in Senate
IS
- Short Title(s) as Reported to Senate
103

Secure And Fair Enforcement Regulation Banking Act
2024-05-24T13:35:35Z
S
Senate
Reported to Senate
RS
- Short Title(s) as Reported to Senate
103

SAFER Banking Act
2024-05-24T13:35:35Z
S
Senate
Reported to Senate
RS
- Official Title as Introduced
6

A bill to create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes.
2024-02-29T09:08:26Z
Introduced in Senate
IS
- Reported to Senate
2023-09-28T04:00:00Z
  - https://www.govinfo.gov/content/pkg/BILLS-118s2860rs/xml/BILLS-118s2860rs.xml
- Introduced in Senate
2023-09-20T04:00:00Z
  - https://www.govinfo.gov/content/pkg/BILLS-118s2860is/xml/BILLS-118s2860is.xml
2023-12-06
Committee on Banking, Housing, and Urban Affairs. Hearings held.
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.