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
Creates safe harbor for banks, credit unions, and insurers providing services to state-legal cannabis businesses. Prevents federal regulators from penalizing institutions for serving legal cannabis industry.
Who Benefits and How
Cannabis businesses gain banking access. Financial institutions can safely serve legal cannabis. States benefit from regulated cannabis economy.
Who Bears the Burden and How
Federal prohibition remains in place. Regulators must adjust enforcement policies. Compliance requirements for financial institutions.
Key Provisions
- Safe harbor for financial services to state-legal cannabis
- Covers depository institutions, credit unions, and insurance
- Includes minority depository institutions
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Protects financial institutions serving state-legal cannabis businesses from federal penalties
Who Benefits
- Cannabis businesses
- Financial institutions
- State programs
Who Bears Costs
- Federal enforcement
- Compliance costs
Key Policy Areas
Banking, Cannabis, Financial Services
Primary Purpose
Protects financial institutions serving state-legal cannabis businesses from federal penalties
Policy Domains
Legislative Strategy
"Resolve banking-cannabis conflict while maintaining prohibition"
Sponsors
Legislative Progress
ReportedReported by Mr. Brown, with amendments
Mr. Merkley (for himself, Mr. Daines, Mr. Schumer, Ms. Sinema, …
Mr. Merkley (for himself, Mr. Daines, Mr. Schumer, Ms. Sinema, …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Bank executives and employees handling cannabis accounts, Banks and credit unions serving cannabis businesses, Banks filing SARs for cannabis accounts
FFIEC member agencies, Federal banking regulators, Federal banking regulators (OCC, FDIC, NCUA, Fed)
Cannabis businesses seeking capital, Cannabis businesses subject to SAR requirements, Cannabis industry employees and owners seeking mortgages
Service providers to cannabis businesses (landlords, accountants, lawyers)
Hemp producers and processors (THC below 0.3%)
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
Key Definitions
Terms defined in this bill
banks, federal credit unions, state credit unions including MDIs
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology