Bill Sponsor
Senate Bill 1152
115th Congress(2017-2018)
SAFE Banking Act
Introduced
Introduced
Introduced in Senate on May 17, 2017
Overview
Text
Introduced
May 17, 2017
Latest Action
Jun 8, 2017
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1152
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Oregon
Democrat
California
Republican
Colorado
Republican
Kentucky
Democrat
Massachusetts
Democrat
Massachusetts
Democrat
Minnesota
Democrat
New Jersey
Democrat
New Jersey
Democrat
North Dakota
Democrat
Oregon
Democrat
Washington
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
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.

Text (1)
Actions (3)
06/08/2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
05/17/2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
05/17/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:36:26 PM