[Congressional Record Volume 165, Number 156 (Thursday, September 26, 2019)]
[Extensions of Remarks]
[Pages E1215-E1218]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SECURE AND FAIR ENFORCEMENT BANKING ACT OF 2019
______
speech of
HON. ED PERLMUTTER
of colorado
in the house of representatives
Wednesday, September 25, 2019
Mr. PERLMUTTER. Madam Speaker, I include in the Record the following
letters of endorsement for H.R. 1595, the SAFE Banking Act.
National Association
of Attorneys General,
Washington, DC, May 8, 2019.
Hon. Nancy Pelosi,
Speaker of the House,
Washington, DC.
Hon. Mitch McConnell,
Majority Leader,
Washington, DC.
Hon. Steny Hoyer,
Majority Leader,
Washington, DC.
Hon. James E. Clyburn,
Majority Whip,
Washington, DC.
Hon. Mike Crapo,
Chair, Senate Committee on Banking, Housing & Urban Affairs,
Washington, DC.
Hon. Kevin McCarthy,
Minority Leader,
Washington, DC.
Hon. Charles E. Schumer,
Minority Leader,
Washington, DC.
Hon. Steve Scalise,
Minority Whip,
Washington, DC.
Hon. Richard J. Durbin,
Minority Whip,
Washington, DC.
Hon. Sherrod Brown,
Ranking Member, Senate Committee on Banking, Housing & Urban
Affairs, Washington, DC.
Dear Congressional Leaders: We are a bipartisan group of
state and territorial attorneys general who recognize that
the states, territories and federal government share a strong
interest in protecting public safety and bringing grey market
financial activities into the regulated banking sector. To
address these goals, we urge Congress to advance legislation
that would allow states and territories that have legalized
certain use of marijuana to bring that commerce into the
banking system.
This issue is of broad relevance: for example, thirty-three
states and several U.S. territories have legalized the
medical use of marijuana. However, because the federal
government classifies marijuana as an illegal substance,
banks providing services to state-licensed cannabis
businesses and even to other companies which sell services
and products to those businesses could find themselves
subject to criminal and civil liability under the federal
Controlled Substances Act and certain federal banking
statutes. This risk has significantly inhibited the ability
of financial institutions to provide services to these
businesses and companies.
Despite the contradictions between federal and state law,
the marijuana industry continues to grow rapidly. Industry
analysts estimate 2017 sales at $8.3 billion and expect those
totals to exceed $25 billion by 2025. Yet those revenues are
handled outside of the regulated banking system. Businesses
are forced to operate on a cash basis. The resulting grey
market makes it more difficult to track revenues for taxation
and regulatory compliance purposes, contributes to a public
safety threat as cash-intensive businesses are often targets
for criminal activity, and prevents proper tracking of
billions in finances across the nation. Importantly, this
measure in no way constitutes an endorsement of any state or
territory's specific approach to the legalization of
marijuana-related transactions, and the Act is in no way an
endorsement for the legalization of medical or retail
marijuana in those jurisdictions that choose not to pursue
such an approach. But regardless of how individual
policymakers feel about states permitting the use of medical
or recreational marijuana, the reality of the situation
requires federal rules that permit a sensible banking regime
for legal businesses.
To address these challenges, we request that Congress
advance the SAFE Banking Act or similar legislation that
would provide a safe harbor for depository institutions that
provide a financial product or service to a covered business
in a state that has implemented laws and regulations that
ensure accountability in the marijuana industry. An effective
safe harbor would bring billions of dollars into the banking
sector, enabling law enforcement; federal, state and local
tax agencies; and cannabis regulators in 33 states and
several territories to more effectively monitor cannabis
businesses and their transactions. Compliance with tax laws
and requirements would be simpler and easier to enforce with
the regulated tracking of funds in the banking system,
resulting in higher tax revenues.
Our banking system must be flexible enough to address the
needs of businesses in the various states and territories,
with state and territorial input, while protecting the
interests of the federal government. This includes a banking
system for marijuana-related businesses that is both
responsive and effective in meeting the demands of our
economy. We look forward to working with
[[Page E1216]]
you as Congress moves forward in this process and to lending
our voice and expertise as you develop legislation.
Respectfully,
Phil Weiser, Colorado Attorney General; Karl A. Racine,
District of Columbia Attorney General; Aaron D. Ford, Nevada
Attorney General; Wayne Stenehjem, North Dakota Attorney
General.
Kevin G. Clarkson, Alaska Attorney General; Mark Brnovich,
Arizona Attorney General; Leslie Rutledge, Arkansas Attorney
General; Xavier Becerra, California Attorney General; William
Tong, Connecticut Attorney General; Kathleen Jennings,
Delaware Attorney General; Leevin Taitano Camacho, Guam
Attorney General; Clare E. Connors, Hawaii Attorney General;
Kwame Raoul, Illinois Attorney General; Tom Miller, Iowa
Attorney General; Andy Beshear, Kentucky Attorney General;
Aaron M. Frey, Maine Attorney General; Brian Frosh, Maryland
Attorney General; Maura Healey, Massachusetts Attorney
General; Dana Nessel, Michigan Attorney General; Keith
Ellison, Minnesota Attorney General; Jim Hood, Mississippi
Attorney General; Gurbir S. Grewal, New Jersey Attorney
General.
Hector Balderas, New Mexico Attorney General; Letitia
James, New York Attorney General; Edward Manibusan, Northern
Mariana Islands Attorney General; Dave Yost, Ohio Attorney
General; Mike Hunter, Oklahoma Attorney General; Ellen F.
Rosenblum, Oregon Attorney General; Josh Shapiro,
Pennsylvania Attorney General; Wanda Vazquez Garced, Puerto
Rico Attorney General; Peter Neronha, Rhode Island Attorney
General; Sean Reyes, Utah Attorney General; T.J. Donovan,
Vermont Attorney General; Denise N. George, U.S. Virgin
Islands Attorney General; Mark R. Herring, Virginia Attorney
General; Robert W. Ferguson, Washington Attorney General;
Patrick Morrisey, West Virginia Attorney General; Joshua L.
Kaul, Wisconsin Attorney General.
____
On behalf of the 1.3 million members of the United Food and
Commercial Workers International Union (UFCW), including
thousands of cannabis workers, we urge you to vote ``yes'' on
the Secure and Fair Enforcement Banking Act of 2019 when it
comes to the House floor.
UFCW's cannabis members can be found in growing and
cultivating facilities; manufacturing and processing
facilities; and in laboratories and dispensaries in multiple
states.
The current ban on banking access for cannabis related
businesses has led to confusion and uncertainty for cannabis
workers who are just trying to do their jobs and support
their families. The lack of uniform treatment of cannabis by
federal, state and local laws has resulted in workers being
denied personal loans for homes and cars, even when they have
high credit scores. Hardworking Americans in the cannabis
industry should not have to struggle with financial and legal
ambiguity while on the job.
Since cannabis employers must pay their workers in cash,
they are also vulnerable to violent crime both inside and
outside their place of business. When employers gain access
to conventional banking, their workers gain both economic and
personal security.
A majority of states have some form of legal cannabis and
it is imperative that the federal government update our
nation's banking laws to include this new and growing
industry.
As the nation's largest union of cannabis workers, we urge
Congress to pass the SAFE Banking Act and give cannabis
workers access to the same financial systems that all other
American workers enjoy.
Ademola Oyefeso,
International Vice President, Director, UFCW Legislative &
Political Action Department.
____
American Bankers Association,
September 24, 2019.
Hon. Nancy Pelosi,
Speaker, House of Representatives,
Washington, DC.
Hon. Kevin McCarthy,
Minority Leader, House of Representatives,
Washington, DC.
Dear Speaker Pelosi and Minority Leader McCarthy: The
American Bankers Association (ABA) is pleased to express our
support for H.R. 1595, the Secure and Fair Enforcement
Banking Act (SAFE Banking Act) of 2019, which is scheduled
for consideration before the House of Representatives in the
coming days.
Currently, 33 states covering 68 percent of the nation's
population have legalized cannabis for medical or adult-use
and at least seven additional states are expected to consider
ballot initiatives in the next two years. Despite that,
current federal law prevents financial institutions from
.banking cannabis businesses, as well as the ancillary
businesses that provide them with goods and services. As a
result, a majority of states are struggling to address the
significant challenges to public safety, as well as
regulatory compliance and tax compliance that go hand-in-hand
with cash-reliant businesses. Although we do not take a
position on the legalization of marijuana, our members are
committed to serving the financial needs of their
communities--including those that have voted to legalize
cannabis.
H.R. 1595, sponsored by Representatives Ed Perlmutter (D-
CO), Denny Heck (D-WA), Steve Stivers (R-OH) and Warren
Davidson (R-OH), along with over 200 members of the House,
takes an important step toward enabling financial services
for cannabis-related businesses.
The bill specifies that proceeds from a legitimate cannabis
business would not be considered unlawful under federal money
laundering statutes or any other federal law, which is
necessary to allow financial services to cannabis businesses
and any ancillary businesses that derive some portion of
their income from cannabis businesses. The bill would also
direct the Financial Crimes Enforcement Network (FinCEN) and
the federal banking regulators, through the Federal Financial
Institutions Examination Council, to issue guidance and exam
procedures for banks doing business with cannabis related
legitimate businesses. We believe such explicit, consistent
direction from federal financial regulators will provide
needed clarity for banks and help them to better evaluate the
risks and supervisory expectations for cannabis-related
customers.
As the legal state-cannabis industry continues to grow, the
indirect connections to cannabis revenues--from real estate
owners, security firms, utilities, law firms and employees of
cannabis businesses, as well as investors--will also continue
to expand. Without greater clarity, that entire portion of
economic activity in legal cannabis states--estimated by some
to be in the tens of billions of dollars--will continue to be
marginalizes from the banking system.
Providing a mechanism for the cannabis industry to access
the banking system would help those communities reduce cash-
motivated crimes, increase the efficiency of tax collections,
and improvethe financial transparency of the cannabis
industry. It would also subject cannabis businesses to
increased oversight of their financial activities since bank
accounts are monitored in accordance with existing anti-money
laundering and Bank Secrecy Act requirements which help law
enforcement identify suspicious transactions--an opportunity
that is not available in an all-cash environment.
The SAFE Banking Act, as amended, is an important measure
that helps clarify many issues for the banking industry,
regulators, businesses and consumers. It also provides
immediate relief for urgent public safety and cannabis
industry oversight challenges, which will help keep our
communities safe and should not be delayed while Congress
works to build consensus on broader questions of national
drug policy. ABA urges members of the House to support H.R.
1595.
Sincerely,
Rob Nichols,
President and CEO.
____
September 19, 2019.
Hon. Nancy Pelosi,
Speaker, House of Representatives,
Washington, DC.
Hon. Kevin McCarthy,
Minority Leader, House of Representatives,
Washington, DC.
Dear Speaker Pelosi and Minority Leader McCarthy: On behalf
of the undersigned state bankers associations, representing
banks throughout the country, we write to express our support
for H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking
Act of 2019, which will soon be considered before the House
of Representatives.
Since 1996, 33 states comprising 68 percent of the nation's
population have legalized cannabis for medical or adult use,
and that number is only expected to grow. Despite this ever-
growing voter preference, current Federal law continues to
prevent banks from offering products and services to these
businesses without fear of federal sanctions. Inevitably,
leaving the cannabis industry unbanked presents serious
public safety, revenue administration, and legal compliance
concerns and must be remedied immediately.
As a result of the federal prohibition and lack of
regulatory clarity, legal cannabis businesses must operate on
an all-cash basis, subjecting their employees and the general
public to serious risk of criminal activity and harm. These
businesses also must remit payments for state taxes and
licensing fees in cash, denying the states the efficiencies
and safety of more modern payment methods. This in turn
significantly increases state compliance auditing costs,
since operating on an all-cash basis leaves no paper trails
for auditors to follow.
The impact on local economies is also significant. As the
cannabis industry continues to grow in states where it is
legal, unrelated businesses that provide products and
services to the industry also become ensnared in the problem.
Because revenue paid to them by cannabis businesses can be
considered monies derived from illegal activities, and
financial institutions that bank the unrelated businesses can
be accused of violating anti-money laundering laws. If banks
are forced to discontinue relationships with these unrelated
businesses, a significant portion of the economy in states
where cannabis is legal will be cut off from the regulated
banking system.
Although we do not take a position on the legalization of
marijuana, our members are committed to serving the financial
needs of their communities--including those that have voted
to legalize cannabis. That is why we support H.R. 1595. This
is fair and balanced legislation that will permit depository
institutions to serve the needs of their customers in states
where cannabis is legal. The bill provides a mechanism for
the cannabis industry and its service providers to deposit
their cash in regulated financial institutions, which allows
banks to meet the needs
[[Page E1217]]
of their communities and helps those communities reduce
cash--motivated crimes, increase the efficiency of tax
collections, and improve the financial transparency of the
cannabis industry.
We urge you to support H.R. 1595 when this legislation
comes before the House.
Sincerely,
Alabama Bankers Association, Alaska Bankers Association,
Arizona Bankers Association, Arkansas Bankers Association,
California Bankers Association, Colorado Bankers Association,
Connecticut Bankers Association, Delaware Bankers
Association, Florida Bankers Association, Georgia Bankers
Association.
Hawaii Bankers Association, Idaho Bankers Association,
Illinois Bankers Association, Indiana Bankers Association,
Iowa Bankers Association, Kansas Bankers Association,
Louisiana Bankers Association, Maine Bankers Association,
Maryland Bankers Association, Massachusetts Bankers
Association.
Michigan Bankers Association, Minnesota Bankers
Association, Mississippi Bankers Association, Missouri
Bankers Association, Montana Bankers Association, Nebraska
Bankers Association, Nevada Bankers Association, New
Hampshire Bankers Association, New Jersey Bankers
Association, New Mexico Bankers Association.
New York Bankers Association, North Carolina Bankers
Association, North Dakota Bankers Association, Ohio Bankers
League, Oklahoma Bankers Association, Oregon Bankers
Association, Pennsylvania Bankers Association, Puerto Rico
Bankers Association, Rhode Island Bankers Association, South
Carolina Bankers Association.
South Dakota Bankers Association, Tennessee Bankers
Association, Texas Bankers Association, Utah Bankers
Association, Vermont Bankers Association, Virginia Bankers
Association, Washington Bankers Association, West Virginia
Bankers Association, Wisconsin Bankers Association, Wyoming
Bankers Association.
____
September 19, 2019.
Hon. Nancy Pelosi,
Speaker of the House, House of Representatives,
Washington, DC.
Hon. Kevin McCarthy,
Minority Leader, House of Representatives,
Washington, DC.
Dear Speaker Pelosi and Minority Leader McCarthy: On behalf
of our members, we write to express our support for H.R.
1595, the Secure and Fair Enforcement (SAFE) Banking Act of
2019 which is scheduled for consideration before the House of
Representatives in the near future.
This important bipartisan legislation, introduced by
Representatives Ed Perlmutter (D-CO), Steve Stivers (R-OH),
Denny Heck (D-WA) and Warren Davidson (R-OH) and supported by
over 200 cosponsors would permit depository institutions to
serve the needs of their customers in states where cannabis
is legal.
The House Financial Services Committee has held substantive
hearings on H.R. 1595 and worked cooperatively to solve the
practical problems caused by the disparate treatment of
cannabis under federal and state laws. Although we do not
take a position on the legalization of marijuana, our members
are committed to serving the financial needs of their
communities--including those that have voted to legalize
cannabis. The current threat of criminal and civil liability
under federal law is suppressing the provision of vital
financial services in the thirty-three states that have
legalized cannabis in some form.
The SAFE Banking Act of 2019 provides a mechanism for the
cannabis industry and its service providers to deposit their
cash in regulated financial institutions, which allows our
members to meet the needs of their communities and helps
those communities reduce cash-motivated crimes, increase the
efficiency of tax collections, and improve the financial
transparency of the cannabis industry.
Without congressional action, a significant portion of
economic activity, including those businesses with only
indirect connections to the cannabis industry, such as
vendors, suppliers, and utility companies, risk being
marginalized from the financial system in states with legal
cannabis industries. H.R. 1595 provides needed legal
protection and clarity for financial institutions to accept
deposits, extend credit, and provide other financial services
to individuals and businesses that derive some portion of
their income from legal state cannabis related activity.
We urge members of the House to support H.R. 1595.
Sincerely,
American Bankers Association (ABA), Credit Union National
Association (CUNA), Independent Community Bankers of America
(ICBA), National Bankers Association (NBA).
____
M B C A, Mid-Size Bank Coalition of America,
September 23, 2019.
Hon. Nancy Pelosi,
Speaker of the House,
Washington, DC.
Hon. Steny H. Hoyer,
House Majority Leader,
Washington, DC.
Hon. James E. Clyburn,
House Majority Whip,
Washington, DC.
Hon. Kevin McCarthy,
House Minority Leader,
Washington, DC.
Hon. Steve J. Scalise,
House Minority Leader,
Washington, DC.
Speaker Pelosi, Majority Leader Hoyer, Majority Whip
Clyburn, Minority Leader McCarthy, and Minority Whip Scalise:
The Mid-Size Bank Coalition of America (MBCA) is writing to
urge House consideration of Secure and Fair Enforcement
(SAFE) Banking Act of 2019, which would allow the provision
of banking services to cannabis-related businesses (CRBs)
through a federal safe harbor. We deeply appreciate the House
Financial Services Committee's bipartisan passage of the bill
in March, and look forward to the full House passing it as
well.
The conflict between federal and states laws and the
evolving legal and regulatory environment surrounding
cannabis has put banks and CRBs in an untenable position.
While the public policy question of whether cannabis should
be legalized is outside the scope of the MBCA charter, it is
greatly concerning that our member banks could find
themselves the subject of regulatory enforcement actions as a
result of extending services to legally licensed businesses
directly involved in cannabis commerce, or even businesses
that provide services to those cannabis businesses.
While a variety of attempts have been made to restrict
federal enforcement of cannabis laws, including the Cole
Memorandum and the Leahy and Joyce-Blumenauer amendments, the
Director of the Financial Crimes Enforcement Network (FinCEN)
has stated unequivocally that it is a federal crime to sell,
manufacture or purchase marijuana (the terms used in the
Controlled Substances Act of 1970). It is therefore
prohibited under federal law to provide banking services to
CRBs, which includes a wide range of ancillary businesses
that have no direct involvement in the sale, manufacture or
purchase of marijuana. Even if banks attempt to avoid banking
businesses that are involved directly in the cannabis
industry, questions arise regarding businesses that may
service those cannabis establishments. Is a payroll processor
that provides services to a dispensary violating federal law,
and therefore ineligible for banking services? Is a real
estate developer who might have one property occupied by a
dispensary or grower likewise in violation? Unfortunately,
our member banks simply do not know what is allowed and what
we are not allowed to do. These questions assume enormous
importance due to the massive negative impact on banks
resulting from potential Bank Secrecy Act (BSA) and anti-
money laundering (AML) violations. We fear, however, that due
to the complicated legal and regulatory environment,
violations could occur that result in significant
reputational, economic and legal damage despite our bankers'
best efforts to avoid violating federal laws and regulations.
As of today, thirty-three states and the District of
Columbia have legalized cannabis for medical and/or adult
use, and, as such, this is now a national issue that requires
a federal solution. It is clear that only Congress can take
effective action to resolve these issues, and while the SAFE
Banking Act is not a perfect solution to the problem of a
federal-state conflict in this area, the MBCA supports the
SAFE Banking Act as an important step forward, and we urge
the House to consider it.
The Mid-Size Bank Coalition of America appreciates your
attention to this critical matter. If you have any questions
about this letter or any additional information would be
helpful, please contact Brent Tjarks, the MBCA's Executive
Director.
Sincerely,
Alessandro DiNello,
Chairman,
Mid-Size Bank Coalition of America.
MID-SIZE BANK COALITION OF AMERICA MEMBERS
1. Ameris Bank (Moultrie, GA)
2. Apple Bank (New York, NY)
3. Arvest Bank (Fayetteville, AR)
4. Associated Bank (Green Bay, WI)
5. BancorpSouth (Tupelo, MS)
6. BannerBank (Walla Walla, WA)
7. BankUnited (Miami Lakes, FL)
8. Banc of California (Santa Ana, CA)
9. Bank of Hope (Los Angeles, CA)
10. Bank Leumi USA (New York, NY)
11. Bank of Hawaii (Honolulu, HI)
12. Bank of the Ozarks (Little Rock, AR)
13. Berkshire Bank (Pittsfield, MA)
14. BOK Financial (Tulsa, OK)
15. Bremer Bank (Saint Paul, MN)
16. Busey Bank (Champaign, IL)
17. Cadence Bank (Houston, TX)
18. Cathay Bank (Los Angeles, CA)
19. Cenlar FSB (Ewing, NJ)
20. Centennial Bank (Conway, AR)
21. CenterState Bank (Winter Haven, FL)
22. Central Bancompany (Jefferson City, MO)
23. Chemical Bank (Midland, MI)
24. CIT Bank (Pasadena, CA)
25. CIBC U.S. (Chicago, IL)
26. City National Bank (Los Angeles, CA)
27. Columbia Bank (Tacoma, WA)
28. Commerce Bank (Kansas City, MO)
29. Community Bank (De Witt, NY)
30. Cullen/Frost Bankers (San Antonio, TX)
31. Customers Bank (Phoenixville, PA)
32. Dollar Bank (Pittsburgh, PA)
33. EagleBank (Bethesda, MD)
34. Eastern Bank (Boston, MA)
35. East West Bank (Pasadena, CA)
36. F.N.B. Corporation (Pittsburgh, PA)
37. FirstBank Holding Company (Lakewood, CO)
[[Page E1218]]
38. First Citizens Bank (Raleigh, NC)
39. First Financial Bank (Cincinnati, OH)
40. First Financial Bankshares (Abilene, TX)
41. First Hawaiian Bank (Honolulu, HI)
42. First Horizon Bank (Memphis, TN)
43. First Interstate Bank (Billings, MT)
44. First Merchants Bank (Muncie, IN)
45. First Midwest Bank (Itasca, IL)
46. First National Bank of Omaha (Omaha, NE)
47. Flagstar Bank (Troy, MI)
48. Fulton Financial (Lancaster, PA)
49. Glacier Bank (Kalispell, MT)
50. Great Western Bank (Sioux Falls, SD)
51. Hancock Whitney (Gulfport, MS)
52. Heartland Financial (Dubuque, IA)
53. Hilltop Holdings (Dallas, TX)
54. Independent Bank (McKinney TX)
55. International Bancshares (Laredo, TX)
56. Investors Bank (Short Hills, NJ)
57. IBERIABANK (Lafayette, LA)
58. Mechanics Bank (Richmond, CA)
59. MidFirst Bank (Oklahoma City, OK)
60. NBT Bank (Norwich, NY)
61. Northwest Bank (Warren, PA)
62. Old National Bank (Evansville, IN)
63. Opus Bank (Irvine, CA)
64. Pacific Premier Bank (Irvine, CA)
65. PacWest Bank (Beverly Hills, CA)
66. People's United Bank (Bridgeport, CT)
67. Pinnacle Bank (Lincoln, NE)
68. Pinnacle Financial Partners (Nashville, TN)
69. Popular Community Bank (New York, NY)
70. Provident Bank (Iselin, NJ)
71. Raymond James Bank (Saint Petersburg, FL)
72. Renasant Bank (Tupelo, MS)
73. Rockland Trust (Rockland, MA)
74. Sandy Spring Bank (Olney, MD)
75. Seacoast Bank (Palm Beach, FL)
76. ServisFirst Bank (Birmingham, AL)
77. Signature Bank (New York, NY)
78. Silicon Valley Bank (Santa Clara, CA)
79. Simmons Bank (Pine Bluff, AR)
80. South State Bank (Columbia, SC)
81. Sterling National Bank (Montebello, NY)
82. Stifel Bank & Trust (Saint Louis, MO)
83. Synovus Bank (Columbus, GA)
84. TCF Bank (Sioux Falls, SD)
85. Texas Capital Bank (Dallas, TX)
86. Third Federal Savings (Cleveland, OH)
87. TIAA Bank (Jacksonville, FL)
88. TowneBank (Portsmouth, VA)
89. Trustmark (Jackson, MS)
90. UMB Financial (Kansas City, MO)
91. Umpqua Bank (Roseburg, OR)
92. Union Bankshares (Richmond, VA)
93. United Community Bank (Blairsville, GA)
94. United Bankshares (Charleston, WV)
95. Valley (Wayne, NJ)
96. Washington Federal Bank, N.A. (Seattle, WA)
97. Webster Bank (Waterbury, CT)
98. WesBanco Bank (Wheeling, WV)
99. Western Alliance Bank (Phoenix, AZ)
100. Wintrust Financial (Rosemont, IL)