SAFE Banking Act

Summary

Secure and Fair Enforcement Banking Act or the SAFE Banking Act 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 or sold 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 a loan or other financial services to a legitimate marijuana-related business.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 May 2017

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 May 2017

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• Introduced in Senate

  summary · EN · 17 May 2017

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