Secure and Fair Enforcement Banking Act of 2019 or the SAFE Banking Act of 2019
HR 1595/S 1200
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. H.R.1456/S.597 - Marijuana Justice Act of 2019, to remove marijuana from the Controlled Substances Act and to provide programming and funding for communities that have been harmed the most by the disproportionate enforcement of cannabis prohibition. H.R.1595/S.1200 - Secure And Fair Enforcement Banking Act of 2019, 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. H.R.1456/S.597 - Marijuana Justice Act of 2019, to remove marijuana from the Controlled Substances Act and to provide programming and funding for communities that have been harmed the most by the disproportionate enforcement of cannabis prohibition. H.R.1595/S.1200 - Secure And Fair Enforcement Banking Act of 2019, 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. H.R.1456/S.597 - Marijuana Justice Act of 2019, to remove marijuana from the Controlled Substances Act and to provide programming and funding for communities that have been harmed the most by the disproportionate enforcement of cannabis prohibition. H.R.1595/S.1200 - Secure And Fair Enforcement Banking Act of 2019, 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. H.R.1456/S.597 - Marijuana Justice Act of 2019, to remove marijuana from the Controlled Substances Act and to provide programming and funding for communities that have been harmed the most by the disproportionate enforcement of cannabis prohibition. H.R.1595/S.1200 - Secure And Fair Enforcement Banking Act of 2019, 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. Secure and Fair Enforcement Banking Act of 2019 or the SAFE Banking Act of 2019
H.R.1595/S.1200
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.
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