H.R. 1595 - 116th Congress (2019-2020) - SAFE Banking Act of 2019

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 processing or collecting payments for 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.

Text (4)

Referred in Senate

September 26, 2019

Engrossed in House

September 25, 2019

Reported in House

June 5, 2019

Introduced in House

March 7, 2019

Actions (17)

Show Only Major Actions

09/26/2019

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

09/25/2019

Motion to reconsider laid on the table Agreed to without objection.

09/25/2019

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 103 (Roll no. 544). (text: CR H7962-7964)

09/25/2019

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 103 (Roll no. 544).(text: CR H7962-7964)

09/25/2019

DEBATE - The House proceeded with forty minutes of debate on H.R. 1595.

09/25/2019

Considered under suspension of the rules. (consideration: CR H7962-7974)

09/25/2019

Mr. Perlmutter moved to suspend the rules and pass the bill, as amended.

06/05/2019

Placed on the Union Calendar, Calendar No. 78.

06/05/2019

Committee on the Judiciary discharged.

06/05/2019

Reported (Amended) by the Committee on Financial Services. H. Rept. 116-104, Part I.

04/08/2019

Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.

03/28/2019

Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 15.

03/28/2019

Committee Consideration and Mark-up Session Held.

03/27/2019

Committee Consideration and Mark-up Session Held.

03/26/2019

Committee Consideration and Mark-up Session Held.

03/07/2019

Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.

03/07/2019

Introduced in House

Public Record

Record Updated

Nov 1, 2022 5:17:24 PM