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.
Sponsors
Legislative Progress
ReportedReported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
Reported by Mr. Brown, with amendments
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 derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Protects financial institutions serving state-legal cannabis businesses from federal penalties
Policy Domains
Legislative Strategy
"Resolve banking-cannabis conflict while maintaining prohibition"
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