SAFE Banking Act
Latest action · Jun 8, 2017 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
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.
- IntroducedMay 17, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 20
Members who signed on, in the order they did. Signatures ran from May 17, 2017 to Nov 13, 2018, with 8 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-HI | Brian Schatz | Original | May 17, 2017 |
| D-NV | Catherine Cortez Masto | Original | May 17, 2017 |
| R-CO | Cory Gardner | Original | May 17, 2017 |
| D-MA | Elizabeth Warren | Original | May 17, 2017 |
| D-CO | Michael F. Bennet | Original | May 17, 2017 |
| D-WA | Patty Murray | Original | May 17, 2017 |
| R-KY | Rand Paul | Original | May 17, 2017 |
| D-OR | Ron Wyden | Original | May 17, 2017 |
| R-AK | Lisa Murkowski | Jun 19, 2017 | |
| I-VT | Bernard Sanders | Jun 28, 2017 | |
| D-MN | Al Franken | Sep 18, 2017 | |
| D-HI | Mazie K. Hirono | Oct 24, 2017 | |
| D-CA | Kamala D. Harris | Jan 30, 2018 | |
| D-MA | Edward J. Markey | Feb 8, 2018 | |
| R-AK | Dan Sullivan | Mar 19, 2018 |
Actions 3
Everything that happened, newest first.
- Jun 8, 2017Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
- May 17, 2017Introduced in Senate
- May 17, 2017Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2215 | SAFE Act of 2017 | Related bill | Sep 21, 2017 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Civil actions and liability
- 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.
- May 17, 2017Introduced in Senate
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.