,,ii #aad? ,,congress #a/ ,session ,s4 #agbf ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,july #i1 #bjae,mr4 ,m]kley 7= himself1 ,mr4 ,g>dn]1 ,mr4 ,b5net1 ,mr4 ,paul1 ,mr4 ,wyd51 & ,mrs4 ,murray7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to create protections = depository in/itutions t provide f9ancial s]vices to m>ijuana-relat$ bus9esses1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,m>ijuana ,bus9esses ,access to ,bank+ ,act ( #bjae4 #b4 ,safe h>bor = depository in/itutions ,a ,f$]al bank+ regulator may n-- 7#a7 t]m9ate or limit ! deposit insurance or %>e insurance ( a depository in/itution "u ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq47 or ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #agea et seq47 solely because ! depository in/itution provides or has provid$ f9ancial s]vices to a m>ijuana-relat$ legitimate bus9ess2 7#b7 prohibit1 p5alize1 or o!rwise disc\rage a depository in/itution f provid+ f9ancial s]vices to a m>ijuana-relat$ legitimate bus9ess2 7#c7 recomm5d1 inc5tivize1 or enc\rage a depository in/itution n to (f] f9ancial s]vices to an individual1 or to d[ngrade or cancel ! f9ancial s]vices (f]$ to an individual solely because-- 7,a7 ! individual is a manufactur] or produc]1 or is ! own] or op]ator ( a m>ijuana-relat$ legitimate bus9ess2 7,b7 ! individual lat] becomes an own] or op]ator ( a m>ijuana-relat$ legitimate bus9ess2 or 7,c7 ! depository in/itution 0 n aw>e t ! individual is ! own] or op]ator ( a m>ijuana-relat$ legitimate bus9ess2 & 7#d7 take any adv]se or corrective sup]visory action on a loan to an own] or op]ator (-- 7,a7 a m>ijuana-relat$ legitimate bus9ess solely because ! bus9ess own] or op]ator is a m>ijuana-relat$ bus9ess2 or 7,b7 real e/ate or equipm5t t is leas$ to a m>ijuana-relat$ legitimate bus9ess solely because ! own] or op]ator ( ! real e/ate or equipm5t leas$ ! equipm5t or real e/ate to a m>ijuana-relat$ legitimate bus9ess4 #c4 ,protections "u ,f$]al law 7a7 ,9 g5]al ,9 a ,/ate or political subdivision t all[s ! cultivation1 production1 manufactur+1 transportation1 display1 disp5s+1 di/ribution1 sale1 or pur*ase ( m>ijuana pursuant to a law 7includ+ regulations7 ( ! ,/ate or political subdivision1 a depository in/itution & ! (fic]s1 director1 & employees ( ! depository in/itution t provides f9ancial s]vices to a m>ijuana-relat$ legitimate bus9ess may n be held liable pursuant to any ,f$]al law 7includ+ regulations7-- 7#a7 solely = provid+ ! f9ancial s]vices pursuant to ! law 7includ+ regulations7 ( ! ,/ate or political subdivision2 or 7#b7 = fur!r inve/+ any income d]iv$ f ! f9ancial s]vices4 7b7 ,=feiture ,a depository in/itution t has a legal int]e/ 9 ! collat]al = a loan made to an own] or op]ator ( a m>ijuana-relat$ legitimate bus9ess1 or to an own] or op]ator ( real e/ate or equipm5t t is leas$ to a m>ijuana-relat$ legitimate bus9ess1 %all n be subject to crim9al1 civil1 or adm9i/rative =feiture ( t legal int]e/ pursuant to any ,f$]al law = provid+ ! loan4 #d4 ,rule ( con/ruction ,no?+ 9 ?is ,act %all require a depository in/itution to provide f9ancial s]vices to a m>ijuana-relat$ legitimate bus9ess4 #e4 ,requirem5ts = fil+ suspici\s activity reports ,section #ecah7;g7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 7#e7 ,requirem5ts = m>ijuana-relat$ bus9esses ,a f9ancial in/itution or any director1 (fic]1 employee1 or ag5t ( a f9ancial in/itution t reports a suspici\s transaction pursuant to a m>ijuana-relat$ legitimate bus9ess 7z def9$ 9 section #f ( ! ,m>ijuana ,bus9esses ,access to ,bank+ ,act ( #bjae7 %all comply ) appropriate guidance issu$ by ! ,f9ancial ,crimes ,en=cem5t ,network4 ,! ,secret>y %all ensure t ! guidance is consi/5t ) ! purpose & int5t ( ! ,m>ijuana ,bus9esses ,access to ,bank+ ,act ( #bjae & does n inhibit ! provision ( f9ancial s]vices to a m>ijuana-relat$ legitimate bus9ess 9 a ,/ate or political subdivision ( a ,/ate t has all[$ ! cultivation1 production1 manufactur+1 transportation1 display1 disp5s+1 di/ribution1 sale1 or pur*ase ( m>ijuana pursuant to law or regulation ( ! ,/ate or political subdivision4 4 #f4 ,def9itions ,9 ?is ,act3 7#a7 ,depository in/itution ,! t]m depository in/itution means-- 7,a7 a depository in/itution z def9$ 9 section #c7;c7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c772 7,b7 a ,f$]al cr$it union z def9$ 9 section #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #ageb72 or 7,c7 a ,/ate cr$it union z def9$ 9 section #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #ageb74 7#b7 ,f$]al bank+ regulator ,! t]m ,f$]al bank+ regulator means ea* ( ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,bureau ( ,consum] ,f9ancial ,protection1 ! ,f$]al ,deposit ,insurance ,corporation1 ! ,(fice ( ! ,comptroll] ( ! ,curr5cy1 ! ,national ,cr$it ,union ,adm9i/ration1 or any ,f$]al ag5cy or dep>tm5t t regulates bank+ or f9ancial s]vices1 z det]m9$ by ! ,secret>y ( ! ,treasury4 7#c7 ,f9ancial s]vice ,! t]m f9ancial s]vice means a f9ancial product or s]vice z def9$ 9 section #ajjb ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#ab ,u4,s4,c4 #edha74 7#d7 ,manufactur] ,! t]m manufactur] means a p]son :o manufactures1 comp\nds1 conv]ts1 processes1 prep>es1 or packages m>ijuana or m>ijuana products4 7#e7 ,m>ijuana-relat$ legitimate bus9ess ,! t]m m>ijuana-relat$ legitimate bus9ess means a manufactur]1 produc]1 or any p]son t-- 7,a7 p>ticipates 9 any bus9ess or organiz$ activity t involves h&l+ m>ijuana or m>ijuana products1 includ+ cultivat+1 produc+1 manufactur+1 sell+1 transport+1 display+1 disp5s+1 di/ribut+1 or pur*as+ m>ijuana or m>ijuana products2 & 7,b7 engages 9 su* activity pursuant to a law e/abli%$ by a ,/ate or a political subdivision ( a ,/ate4 7#f7 ,m>ijuana ,! t]m m>ijuana has ! mean+ giv5 ! t]m m>ihuana 9 section #ajb ( ! ,controll$ ,sub/ances ,act 7#ba ,u4,s4,c4 #hjb74 7#g7 ,m>ijuana product ,! t]m m>ijuana product means any article :i* conta9s m>ijuana1 includ+ an article :i* is a conc5trate1 an edible1 a t9cture1 a m>ijuana-infus$ product1 or a topical4 7#h7 ,produc] ,! t]m produc] means a p]son :o plants1 cultivates1 h>ve/s1 or 9 any way facilitates ! natural gr[? ( m>ijuana4 7#i7 ,/ate ,! t]m ,/ate means ea* ( ! sev]al ,/ates1 ! ,di/rict ( ,columbia1 ,pu]to ,rico1 & any t]ritory or possession ( ! ,unit$ ,/ates4