To create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires definitions In this Act: The term business of insurance has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C, requires safe harbor for depository institutions A Federal banking regulator may not— terminate or limit the deposit insurance or share insurance of a depository institution under the Federal Deposit Insurance Act (12, and requires protections for providing services to State-sanctioned marijuana businesses For the purposes of sections 1956 and 1957 of title 18, United States Code, and all other provisions of Federal law, the proceeds. It relies on compliance mandates, trade restrictions, definition changes, and reporting requirements. The main policy areas are Agriculture, Finance, Native American Tribes, and Civil Rights.
Who Benefits and How
Tribal governments and members affected by the bill could face lower compliance burdens, Cannabis businesses, researchers, or patients affected by the bill could face lower compliance burdens, and Transportation operators and users affected by the bill could gain revenue opportunities.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Cannabis businesses, researchers, or patients affected by the bill would take on compliance duties, and Financial services firms and customers affected by the bill would take on compliance duties.
Key Provisions
- Requires definitions In this Act: The term business of insurance has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C.
- Requires safe harbor for depository institutions A Federal banking regulator may not— terminate or limit the deposit insurance or share insurance of a depository institution under the Federal Deposit Insurance Act (12...
- Requires protections for providing services to State-sanctioned marijuana businesses For the purposes of sections 1956 and 1957 of title 18, United States Code, and all other provisions of Federal law, the proceeds...
- Requires protections under Federal law With respect to providing a financial service to a State-sanctioned marijuana business (where such State-sanctioned marijuana business operates within a State, an Indian Tribe...
- Provides requirements for filing suspicious activity reports Section 5318(g) of title 31, United States Code, is amended— by redesignating paragraph (11) as paragraph (12).
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires definitions In this Act: The term business of insurance has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C, requires safe harbor for depository institutions A Federal banking regulator may not— terminate or limit the deposit insurance or share insurance of a depository institution under the Federal Deposit Insurance Act (12, and requires protections for providing services to State-sanctioned marijuana businesses For the purposes of sections 1956 and 1957 of title 18, United States Code, and all other provisions of Federal law, the proceeds.
Key Policy Areas
Agriculture, Finance, Native American Tribes, Civil Rights
Primary Purpose
The bill requires definitions In this Act: The term business of insurance has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C, requires safe harbor for depository institutions A Federal banking regulator may not— terminate or limit the deposit insurance or share insurance of a depository institution under the Federal Deposit Insurance Act (12, and requires protections for providing services to State-sanctioned marijuana businesses For the purposes of sections 1956 and 1957 of title 18, United States Code, and all other provisions of Federal law, the proceeds.
Policy Domains
Whole bill
Identified Gains
- Tribal governments and members affected by the bill
- Cannabis businesses, researchers, or patients affected by the bill
- Transportation operators and users affected by the bill
- Financial services firms and customers affected by the bill
- Environmental and public health interests affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Cannabis businesses, researchers, or patients affected by the bill
- Financial services firms and customers affected by the bill
- Tribal governments and members affected by the bill
- Businesses and employers affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Joyce of Ohio (for himself, Mr. Blumenauer, Mr. Davidson, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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