Marijuana Businesses Access to Banking Act of 2015
Latest action · Jun 1, 2015 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 28, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 39
Members who signed on, in the order they did. Signatures ran from Apr 28, 2015 to Nov 16, 2016; 17 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Brad Sherman | Original | Apr 28, 2015 |
| D-NY | Charles B. Rangel | Original | Apr 28, 2015 |
| D-ME | Chellie Pingree | Original | Apr 28, 2015 |
| D-WA | Denny Heck | Original | Apr 28, 2015 |
| D-CO | Diana DeGette | Original | Apr 28, 2015 |
| D-NV | Dina Titus | Original | Apr 28, 2015 |
| D-OR | Earl Blumenauer | Original | Apr 28, 2015 |
| D-DC | Eleanor Holmes Norton | Original | Apr 28, 2015 |
| D-NY | Hakeem S. Jeffries | Original | Apr 28, 2015 |
| D-MA | James P. McGovern | Original | Apr 28, 2015 |
| D-CO | Jared Polis | Original | Apr 28, 2015 |
| D-CA | Julia Brownley | Original | Apr 28, 2015 |
| I-AZ | Kyrsten Sinema | Original | Apr 28, 2015 |
| R-CO | Mike Coffman | Original | Apr 28, 2015 |
| D-CA | Scott H. Peters | Original | Apr 28, 2015 |
| D-WA | Suzan K. DelBene | Original | Apr 28, 2015 |
| D-CA | Zoe Lofgren | Original | Apr 28, 2015 |
| D-OR | Peter A. DeFazio | May 14, 2015 | |
| D-WA | Adam Smith | May 19, 2015 | |
| D-CA | Jared Huffman | May 19, 2015 | |
| D-VA | Donald S. Beyer, Jr. | Jun 3, 2015 | |
| D-OR | Kurt Schrader | Jun 3, 2015 | |
| D-HI | Tulsi Gabbard | Jun 3, 2015 | |
| D-FL | Patrick Murphy | Jun 11, 2015 | |
| D-WA | Derek Kilmer | Jun 15, 2015 | |
| D-CA | Barbara Lee | Jul 7, 2015 | |
| D-CA | Eric Swalwell | Jul 15, 2015 | |
| D-WI | Mark Pocan | Jul 21, 2015 | |
| D-HI | Mark Takai | Jul 21, 2015 | |
| D-WA | Jim McDermott | Jul 29, 2015 | |
| R-NV | Joseph J. Heck | Sep 8, 2015 | |
| D-CA | Ted Lieu | Sep 8, 2015 | |
| R-WI | Reid J. Ribble | Oct 1, 2015 | |
| D-MD | John K. Delaney | Apr 29, 2016 | |
| D-AZ | Raúl M. Grijalva | May 11, 2016 | |
| D-MA | Michael E. Capuano | May 16, 2016 | |
| D-CA | Pete Aguilar | Sep 19, 2016 | |
| R-CA | Dana Rohrabacher | Nov 16, 2016 | |
| D-CT | Joe Courtney | Nov 16, 2016 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Apr 28, 2015 |
| House | Judiciary Committee | Referred Apr 28, 2015 |
| Crime and Federal Government Surveillance Subcommittee | Referred Jun 1, 2015 |
Actions 3
Everything that happened, newest first.
- Jun 1, 2015Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
- Apr 28, 2015Introduced in House
- Apr 28, 2015Referred 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.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 62, April 28, 2015, page H2499.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R44782 | The Evolution of Marijuana as a Controlled Substance and the Federal-State Policy Gap | Report | Apr 7, 2022 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1726 | Marijuana Businesses Access to Banking Act of 2015 | Related bill | Jul 9, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To create protections for depository institutions that provide financial services to marijuana-related businesses, and for other purposes.
- Short Titles as Introduced
- Marijuana Businesses Access to Banking Act of 2015
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Credit and credit markets
- Criminal investigation, prosecution, interrogation
- Criminal justice information and records
- Drug trafficking and controlled substances
- Finance and Financial Sector
- Financial services and investments
- Fraud offenses and financial crimes
- Government information and archives
Text 1
Each version as it was printed, newest first.
- Apr 28, 2015Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
