H.R.2215 - SAFE Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Perlmutter, Ed [D-CO-7] (Introduced 04/27/2017)|
|Committees:||House - Financial Services; Judiciary|
|Latest Action:||House - 09/21/2017 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2215 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (04/27/2017)
Secure and Fair Enforcement Banking Act of 2017 or the SAFE Act of 2017
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 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 financial services to a legitimate marijuana-related business.