Marijuana Businesses Access to Banking Act of 2015

Summary

Marijuana Businesses Access to Banking Act of 2015 This bill provides a safe harbor for depository institutions providing financial services to a marijuana-related legitimate business insofar as it prohibits a federal banking regulator from: (1) terminating or limiting the deposit or share insurance of a depository institution solely because it provides financial services to a marijuana-related legitimate business; or (2) prohibiting, penalizing, or otherwise discouraging a depository institution from offering such services. A federal banking regulator may neither recommend, motivate, provide incentives, nor encourage a depository institution to refuse to offer financial services to an individual, nor downgrade or cancel financial services offered to an individual, solely because the individual: (1) is a manufacturer, producer, owner or operator of a marijuana-related legitimate business; or (2) the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business. A federal banking regulator may not take any adverse or corrective supervisory action, solely because of the business involved, on a loan made to an owner or operator of: (1) a marijuana-related legitimate business, or (2) real estate or equipment that is leased to a marijuana-related legitimate business. Immunity from federal criminal prosecution or investigation is granted, subject to certain conditions, to a depository institution that provides financial services to a marijuana-related legitimate business in a state or one of its political subdivisions that allows the cultivation, production, manufacture, sale, transportation, display, dispensing, distribution, or purchase of marijuana. Neither the depository institution nor its officers, directors, nor employees may be held liable under federal law or regulation solely for providing such financial services or further investing income derived from those services. The Department of the Treasury must require any suspicious activity report filed by a financial institution regarding a marijuana-based business to comply with specified guidance of the Financial Crimes Enforcement Network. Treasury must ensure that the guidance is consistent with the Marijuana Businesses Access to Banking Act of 2015 and does not inhibit the provision of financial services to a marijuana-related legitimate business in a state or local government that allows the cultivation, production, manufacturing, transportation, display, dispensing, distribution, sale, or purchase of marijuana.

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

Timeline

1. 9 July 2015

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 9 July 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 9 July 2015 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 July 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 July 2015

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 9 July 2015

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Gardner, Cory [R-CO] · R · Sponsor
• Sen. Bennet, Michael F. [D-CO] · D · Sponsor
• Sen. Paul, Rand [R-KY] · R · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Murray, Patty [D-WA] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Cosponsor
• Sen. Sanders, Bernard [I-VT] · I · Cosponsor
• Sen. Reid, Harry [D-NV] · D · Cosponsor
• Sen. Heller, Dean [R-NV] · R · Cosponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Cosponsor
• Sen. Schatz, Brian [D-HI] · D · Cosponsor
• · ssbk00 · Standing

Related records

• related to → CARERS Act of 2015
• related to → Marijuana Businesses Access to Banking Act of 2015
• related to → CARERS Act of 2015