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United States · Bill · HR

H.R. 2891 (118th)

SAFE Banking Act of 2023

referredUnited States· United States Congress· EN

Introduced

26 April 2023

Last action

3 May 2023 · Referred

Status

Referred to the Subcommittee on Economic Opportunity.

Sponsors

Rep. Joyce, David P. [R-OH-14], Rep. Blumenauer, Earl [D-OR-3], Rep. Davidson, Warren [R-OH-8], Rep. Himes, James A. [D-CT-4], Rep. Mast, Brian J. [R-FL-21], Rep. Lee, Barbara [D-CA-12], Rep. Reschenthaler, Guy [R-PA-14], Rep. Velázquez, Nydia M. [D-NY-7], Lori Chavez-DeRemer, Rep. Correa, J. Luis [D-CA-46], Rep. Meuser, Daniel [R-PA-9], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Amodei, Mark E. [R-NV-2], Rep. Case, Ed [D-HI-1], Rep. Armstrong, Kelly [R-ND-At Large], Rep. Moskowitz, Jared [D-FL-23], Rep. McClintock, Tom [R-CA-5], Sen. Gallego, Ruben [D-AZ], Rep. Moore, Barry [R-AL-1], Sen. Slotkin, Elissa [D-MI], Rep. Titus, Dina [D-NV-1], Rep. Lee, Susie [D-NV-3], Rep. Porter, Katie [D-CA-47], Rep. Balderson, Troy [R-OH-12], Rep. Scholten, Hillary J. [D-MI-3], Rep. Rogers, Mike D. [R-AL-3], Mary Peltola, Rep. Hoyle, Val T. [D-OR-4], Rep. Norcross, Donald [D-NJ-1], Rep. Molinaro, Marcus J. [R-NY-19], Rep. Luetkemeyer, Blaine [R-MO-3], Rep. Miller-Meeks, Mariannette [R-IA-1], Rep. Barr, Andy [R-KY-6], Rep. Langworthy, Nicholas A. [R-NY-23], Rep. Sherman, Brad [D-CA-32], Rep. Quigley, Mike [D-IL-5], Rep. Jayapal, Pramila [D-WA-7], Rep. Phillips, Dean [D-MN-3], Rep. Scanlon, Mary Gay [D-PA-5], Colin Allred, Rep. Golden, Jared F. [D-ME-2], Rep. Pocan, Mark [D-WI-2], Rep. Connolly, Gerald E. [D-VA-11], Rep. Courtney, Joe [D-CT-2], Rep. Wexton, Jennifer [D-VA-10], Rep. Foster, Bill [D-IL-11], Rep. McGovern, James P. [D-MA-2], Rep. Perez, Marie Gluesenkamp [D-WA-3]

Subjects

Discovery layer

Source updated

5 December 2025

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Summary

Secure and Fair Enforcement Banking Act of 2023 or the SAFE Banking Act of 2023 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 ordering a depository institution to terminate a customer account unless (1) the regulator has determined that the depository institution is engaging in an unsafe or unsound practice or is violating a law or regulation, and (2) that determination is not based primarily on reputation risk. 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 26 April 2023

    Introduced

    Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 26 April 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 26 April 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 3 May 2023

    Referred

    Referred to the Subcommittee on Economic Opportunity.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 26 April 2023

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  • Introduced in House (PDF)

    Introduced in House · EN · 26 April 2023

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 26 April 2023

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Sponsors

Showing 48 of 134 sponsors and actors.

Related records

Sources

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