SAFE Act of 2017

Summary

Secure and Fair Enforcement Banking Act of 2017 or the SAFE Act of 2017 This 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; or (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 to such a business. As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing financial services to a legitimate marijuana-related business.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 April 2017

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• Introduced in House (PDF)

  Introduced in House · EN · 27 April 2017

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• Introduced in House

  summary · EN · 27 April 2017

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