All Information (Except Text) for H.R.1595 - Secure And Fair Enforcement Banking Act of 2019116th Congress (2019-2020) |
Bill
Hide Overview| Sponsor: | Rep. Perlmutter, Ed [D-CO-7] (Introduced 03/07/2019) |
|---|---|
| Committees: | House - Financial Services; Judiciary | Senate - Banking, Housing, and Urban Affairs |
| Committee Meetings: | 03/26/19 2:00PM |
| Committee Reports: | H. Rept. 116-104 |
| Latest Action: | Senate - 09/26/2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions) |
| Roll Call Votes: | There has been 1 roll call vote |
Tracker:
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Subject — Policy Area:
- Finance and Financial Sector
- View subjects
There are 4 versions of this bill. View text
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Titles (3)
Short Titles
Short Titles - House of Representatives
Short Titles as Passed House
SAFE Banking Act of 2019
Secure And Fair Enforcement Banking Act of 2019
Actions Overview (4)
| Date | Actions Overview |
|---|---|
| 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) |
| 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. |
| 03/07/2019 | Introduced in House |
All Actions (17)
| Date | Chamber | All Actions |
|---|---|---|
| 09/26/2019 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| 09/25/2019-5:43pm | House | Motion to reconsider laid on the table Agreed to without objection. |
| 09/25/2019-5:43pm | 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) |
| 09/25/2019-4:24pm | House | DEBATE - The House proceeded with forty minutes of debate on H.R. 1595. |
| 09/25/2019-4:24pm | House | Considered under suspension of the rules. (consideration: CR H7962-7974) |
| 09/25/2019-4:24pm | House | Mr. Perlmutter moved to suspend the rules and pass the bill, as amended. |
| 06/05/2019 | House | Placed on the Union Calendar, Calendar No. 78. |
| 06/05/2019 | House | Committee on the Judiciary discharged. |
| 06/05/2019 | House | Reported (Amended) by the Committee on Financial Services. H. Rept. 116-104, Part I. |
| 04/08/2019 | House | Referred to the Subcommittee on Crime, Terrorism, and Homeland Security. Action By: Committee on the Judiciary |
| 03/28/2019 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 15. Action By: Committee on Financial Services |
| 03/28/2019 | House | Committee Consideration and Mark-up Session Held. Action By: Committee on Financial Services |
| 03/27/2019 | House | Committee Consideration and Mark-up Session Held. Action By: Committee on Financial Services |
| 03/26/2019 | House | Committee Consideration and Mark-up Session Held. Action By: Committee on Financial Services |
| 03/07/2019 | House | 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 | House | 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 | House | Introduced in House |
Cosponsors (206)
Committees (3)
Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.
| Committee / Subcommittee | Date | Activity | Reports |
|---|---|---|---|
| House Financial Services | 03/07/2019 | Referred to | |
| 03/28/2019 | Markup by | ||
| 06/05/2019 | Reported by | H. Rept. 116-104 |
|
| House Judiciary | 03/07/2019 | Referred to | |
| 06/05/2019 | Discharged from | ||
| House Judiciary Subcommittee on Crime, Terrorism, and Homeland Security | 04/08/2019 | Referred to | |
| Senate Banking, Housing, and Urban Affairs | 09/26/2019 | Referred to |
Subjects (22)
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
- Asia
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business records
- Congressional oversight
- Credit and credit markets
- Criminal investigation, prosecution, interrogation
- Criminal justice information and records
- Drug trafficking and controlled substances
- Drug, alcohol, tobacco use
- Financial services and investments
- Fraud offenses and financial crimes
- Government information and archives
- Government studies and investigations
- Iran
- Middle East
- Minority and disadvantaged businesses
- North Korea
- Syria
- Terrorism
- Women in business
Latest Summary (3)
Shown Here:
Passed House (09/25/2019)
Secure and Fair Enforcement Banking Act of 2019 or the 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- or hemp-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- or hemp-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 engaging in a financial service for such a business.
As specified by the bill, a depository institution, a Federal Reserve bank, or an insurer shall not, under federal law, be liable or subject to forfeiture for providing a loan or other financial services to a legitimate marijuana- or hemp-related business.
The bill specifies that a federal banking agency may not request or order a depository institution to terminate a customer account unless (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk. Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
The Government Accountability Office must report on (1) access to financial services for minority-owned and women-owned marijuana- or hemp-related businesses; and (2) the effectiveness of suspicious-transaction reports at finding engagement with organized criminal activity in jurisdictions that allow the cultivation, sale, or distribution of marijuana.