,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #abjj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #aa1 #bjai,mr4  
,m]kley 7= himself1 ,mr4 ,g>dn]1 ,ms4   
,ros51 ,ms4 ,murk[ski1 ,mr4 ,b5net1 ,mr4
 ,sullivan1 ,ms4 ,h>ris1 ,mr4 ,paul1    
,ms4 ,cortez ,ma/o1 ,ms4 ,duckwor?1 ,mr4
 ,pet]s1 ,mr4 ,m55dez1 ,mr4 ,k+1 ,mr4   
,s&]s1 ,mrs4 ,murray1 ,mr4 ,m>key1 ,mr4 
,leahy1 ,mr4 ,s*atz1 ,mr4 ,wyd51 ,ms4   
,w>r51 ,ms4 ,hirono1 & ,mr4 ,cram]7     
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 cannabis-relat$     
legitimate bus9esses & s]vice provid]s =
 su* bus9esses1 & = o!r purposes4  #a4  
,%ort title2 purpose  7a7 ,%ort title   
,?is ,act may be cit$ z ! ,secure ,&    
,fair ,en=cem5t ,bank+ ,act ( #bjai or !
 ,,safe ,bank+ ,act ( #bjai4  7b7       
,purpose ,! purpose ( ?is ,act is to    
increase public safety by ensur+ access 

to f9ancial s]vices to cannabis-relat$  
legitimate bus9esses & s]vice provid]s &
 r$uc+ ! am\nt ( ca% at su* bus9esses4  
#b4 ,safe h>bor = depository in/itutions
  7a7 ,9 g5]al ,a ,f$]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$it ,union
 ,act 7#ab ,u4,s4,c4 #agea et seq47 or  
take any o!r adv]se action aga9/ a      
depository in/itution "u section #h ( ! 
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahah7 solely because !       
depository in/itution provides or has   
provid$ f9ancial s]vices to a           
cannabis-relat$ legitimate bus9ess or   
s]vice provid]2  7#b7 prohibit1 p5alize1
 or o!rwise disc\rage a depository      
in/itution f provid+ f9ancial s]vices to
 a cannabis-relat$ legitimate bus9ess or
 s]vice provid] or to a ,/ate1 political
 subdivision ( a ,/ate1 or ,indian      
,tribe t ex]cises jurisdiction ov]      

cannabis-relat$ legitimate bus9esses2   
7#c7 recomm5d1 inc5tivize1 or enc\rage a
 depository in/itution n to (f] f9ancial
 s]vices to an acc\nt hold]1 or to      
d[ngrade or cancel ! f9ancial s]vices   
(f]$ to an acc\nt hold] solely because--
  7,a7 ! acc\nt hold] is a              
cannabis-relat$ legitimate bus9ess or   
s]vice provid]1 or is an employee1 own]1
 or op]ator ( a cannabis-relat$         
legitimate bus9ess or s]vice provid]2   
7,b7 ! acc\nt hold] lat] becomes an     
employee1 own]1 or op]ator ( a          
cannabis-relat$ legitimate bus9ess or   
s]vice provid]2 or  7,c7 ! depository   
in/itution 0 n aw>e t ! acc\nt hold] is 
an employee1 own]1 or op]ator ( a       
cannabis-relat$ legitimate bus9ess or   
s]vice provid]2  7#d7 take any adv]se or
 corrective sup]visory action on a loan 
made to-- 7,a7 a cannabis-relat$        
legitimate bus9ess or s]vice provid]1   
solely because ! bus9ess is a           
cannabis-relat$ legitimate bus9ess or   
s]vice provid]2  7,b7 an employee1 own]1

 or op]ator ( a cannabis-relat$         
legitimate bus9ess or s]vice provid]1   
solely because ! employee1 own]1 or     
op]ator is employ$ by1 owns1 or op]ates 
a cannabis-relat$ legitimate bus9ess or 
s]vice provid]1 z applicable2 or  7,c7  
an own] or op]ator ( real e/ate or      
equipm5t t is leas$ to a cannabis-relat$
 legitimate bus9ess or s]vice provid]1  
solely because ! own] or op]ator ( !    
real e/ate or equipm5t leas$ ! equipm5t 
or real e/ate to a cannabis-relat$      
legitimate bus9ess or s]vice provid]1 z 
applicable2 or  7#e7 prohibit or p5alize
 a depository in/itution 7or entity     
p]=m+ a f9ancial s]vice = or 9          
association ) a depository in/itution7  
=1 or o!rwise disc\rage a depository    
in/itution 7or entity p]=m+ a f9ancial  
s]vice = or 9 association ) a depository
 in/itution7 f1 engag+ 9 a f9ancial     
s]vice = a cannabis-relat$ legitimate   
bus9ess or s]vice provid]4  7b7 ,safe   
h>bor applicable to de novo in/itutions 
,subsection 7a7 %all apply to an        

in/itution apply+ = a depository        
in/itution *>t] to ! same ext5t z su*   
subsection applies to a depository      
in/itution4  #c4 ,protections = ancill>y
 bus9esses ,= purposes ( sections #aief 
& #aieg ( title #ah1 ,unit$ ,/ates      
,code1 & all o!r provisions ( ,f$]al    
law1 ! proce$s f a transaction conduct$ 
by a cannabis-relat$ legitimate bus9ess 
or s]vice provid] %all n be consid]$ z  
proce$s f an unlawful activity solely   
because ! transaction 0 conduct$ by a   
cannabis-relat$ legitimate bus9ess or   
s]vice provid]1 z applicable4  #d4      
,protections "u ,f$]al law  7a7 ,9 g5]al
 ,) respect to provid+ a f9ancial s]vice
 to a cannabis-relat$ legitimate bus9ess
 or s]vice provid] )9 a ,/ate1 political
 subdivision ( a ,/ate1 or ,indian      
c\ntry t all[s ! cultivation1           
production1 manufacture1 sale1          
transportation1 display1 disp5s+1       
di/ribution1 or pur*ase ( cannabis      
pursuant to a law or regulation ( su*   
,/ate1 political subdivision1 or ,indian

 ,tribe t has jurisdiction ov] ! ,indian
 c\ntry1 z applicable1 a depository     
in/itution1 entity p]=m+ a f9ancial     
s]vice = or 9 association ) a depository
 in/itution1 or insur] t provides a     
f9ancial s]vice to a cannabis-relat$    
legitimate bus9ess or s]vice provid]1 & 
! (fic]s1 directors1 & employees ( t    
depository in/itution1 entity1 or insur]
 may n be held liable pursuant to any   
,f$]al law or regulation--  7#a7 solely 
= provid+ su* a f9ancial s]vice2 or     
7#b7 = fur!r inve/+ any income d]iv$ f  
su* a f9ancial s]vice4  7b7 ,protections
 = ,f$]al res]ve banks ,) respect to    
provid+ a s]vice to a depository        
in/itution t provides a f9ancial s]vice 
to a cannabis-relat$ legitimate bus9ess 
or s]vice provid] 7:]e su* f9ancial     
s]vice is provid$ )9 a ,/ate1 political 
subdivision ( a ,/ate1 or ,indian c\ntry
 t all[s ! cultivation1 production1     
manufacture1 sale1 transportation1      
display1 disp5s+1 di/ribution1 or       
pur*ase ( cannabis pursuant to a law or 

regulation ( su* ,/ate1 political       
subdivision1 or ,indian ,tribe t has    
jurisdiction ov] ! ,indian c\ntry1 z    
applicable71 a ,f$]al res]ve bank1 & !  
(fic]s1 directors1 & employees ( !      
,f$]al res]ve bank1 may n be held liable
 pursuant to any ,f$]al law or          
regulation--  7#a7 solely = provid+ su* 
a s]vice2 or  7#b7 = fur!r inve/+ any   
income d]iv$ f su* a s]vice4  7c7       
,=feiture  7#a7 ,depository in/itutions 
,a depository in/itution t has a legal  
int]e/ 9 ! collat]al = a loan or ano!r  
f9ancial s]vice provid$ to an own]1     
employee1 or op]ator ( a cannabis-relat$
 legitimate bus9ess or s]vice provid]1  
or to an own] or op]ator ( real e/ate or
 equipm5t t is leas$ or sold to a       
cannabis-relat$ legitimate bus9ess or   
s]vice provid]1 %all n be subject to    
crim9al1 civil1 or adm9i/rative =feiture
 ( t legal int]e/ pursuant to any ,f$]al
 law = provid+ su* loan or o!r f9ancial 
s]vice4  7#b7 ,f$]al res]ve banks ,a    
,f$]al res]ve bank t has a legal int]e/ 

9 ! collat]al = a loan or ano!r f9ancial
 s]vice provid$ to an own]1 employee1 or
 op]ator ( a depository in/itution t    
provides a f9ancial s]vices to a        
cannabis-relat$ legitimate bus9ess or   
s]vice provid]1 or to an own] or op]ator
 ( real e/ate or equipm5t t is leas$ or 
sold to su* a depository in/itution1    
%all n be subject to crim9al1 civil1 or 
adm9i/rative =feiture ( t legal int]e/  
pursuant to any ,f$]al law = provid+ su*
 loan or o!r f9ancial s]vice4  #e4 ,rule
 ( con/ruction ,no?+ 9 ?is ,act %all    
require a depository in/itution1 entity 
p]=m+ a f9ancial s]vice = or 9          
association ) a depository in/itution1  
or insur] to provide f9ancial s]vices to
 a cannabis-relat$ legitimate bus9ess or
 s]vice provid]4  #f4 ,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 =            
cannabis-relat$ legitimate bus9esses    
7,a7 ,9 g5]al ,) respect to a f9ancial  

in/itution or any director1 (fic]1      
employee1 or ag5t ( a f9ancial          
in/itution t reports a suspici\s        
transaction pursuant to ?is subsection1 
if ! reason = ! report relates to a     
cannabis-relat$ legitimate bus9ess or   
s]vice provid]1 ! report %all comply )  
appropriate guidance issu$ by !         
,f9ancial ,crimes ,en=cem5t ,network4 ,!
 ,secret>y %all ensure t ! guidance is  
consi/5t ) ! purpose & int5t ( ! ,,safe 
,bank+ ,act ( #bjai & does n            
significantly inhibit ! provision (     
f9ancial s]vices to a cannabis-relat$   
legitimate bus9ess or s]vice provid] 9 a
 ,/ate1 political subdivision ( a ,/ate1
 or ,indian c\ntry t has all[$ !        
cultivation1 production1 manufacture1   
transportation1 display1 disp5s+1       
di/ribution1 sale1 or pur*ase ( cannabis
 pursuant to law or regulation ( su*    
,/ate1 political subdivision1 or ,indian
 ,tribe t has jurisdiction ov] ! ,indian
 c\ntry4  7,b7 ,def9itions ,= purposes (
 ?is p>agraph3 7i7 ,cannabis ,! t]m     

cannabis has ! mean+ giv5 ! t]m m>ihuana
 9 section #ajb ( ! ,controll$          
,sub/ances ,act 7#ba ,u4,s4,c4 #hjb74   
7ii7 ,cannabis-relat$ legitimate bus9ess
 ,! t]m cannabis-relat$ legitimate      
bus9ess has ! mean+ giv5 t t]m 9 section
 #aa ( ! ,,safe ,bank+ ,act ( #bjai4    
7iii7 ,indian c\ntry ,! t]m ,indian     
c\ntry has ! mean+ giv5 t t]m 9 section 
#aaea ( title #ah4  7iv7 ,indian ,tribe 
,! t]m ,indian ,tribe has ! mean+ giv5 t
 t]m 9 section #ajb ( ! ,f$]ally        
,recogniz$ ,indian ,tribe ,li/ ,act (   
#aiid 7#be ,u4,s4,c4 #dgi;a74  7v7      
,f9ancial s]vice ,! t]m f9ancial s]vice 
has ! mean+ giv5 t t]m 9 section #aa ( !
 ,,safe ,bank+ ,act ( #bjai4  7vi7      
,s]vice provid] ,! t]m s]vice provid]   
has ! mean+ giv5 t t]m 9 section #aa ( !
 ,,safe ,bank+ ,act ( #bjai4  7vii7     
,/ate ,! t]m ,/ate means ea* ( ! sev]al 
,/ates1 ! ,di/rict ( ,columbia1 ,pu]to  
,rico1 & any t]ritory or possession ( ! 
,unit$ ,/ates4  4  #g4 ,guidance &      
exam9ation proc$ures ,n lat] ?an #ahj   

days aft] ! date ( enactm5t ( ?is ,act1 
! ,f9ancial ,in/itutions ,exam9ation    
,c\ncil %all develop uni=m guidance &   
exam9ation proc$ures = depository       
in/itutions t provide f9ancial s]vices  
to cannabis-relat$ legitimate bus9esses 
& s]vice provid]s4  #h4 ,annual div]sity
 & inclusion report ,! ,f$]al bank+     
regulators %all issue an annual report  
to ,congress conta9+-- 7#a7 in=mation & 
data on ! availability ( access to      
f9ancial s]vices = m9ority-own$ &       
wom5-own$ cannabis-relat$ legitimate    
bus9esses2 &  7#b7 any regulatory or    
legislative recomm5dations = exp&+      
access to f9ancial s]vices =            
m9ority-own$ & wom5-own$ cannabis-relat$
 legitimate bus9esses4  #i4 ,,gao /udy  
on div]sity & inclusion  7a7 ,/udy ,!   
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all c>ry out a /udy on ! b>ri]s to     
m>ketplace entry1 includ+ 9 ! lic5s+    
process1 & ! access to f9ancial s]vices 
= pot5tial & exi/+ m9ority-own$ &       
wom5-own$ cannabis-relat$ legitimate    

bus9esses4  7b7 ,report ,! ,comptroll]  
,g5]al %all issue a report to !         
,congress-- 7#a7 conta9+ all f9d+s &    
det]m9ations made 9 c>ry+ out ! /udy    
requir$ "u subsection 7a72 &  7#b7      
conta9+ any regulatory or legislative   
recomm5dations = remov+ b>ri]s to       
m>ketplace entry1 includ+ 9 ! lic5s+    
process1 & exp&+ access to f9ancial     
s]vices = pot5tial & exi/+ m9ority-own$ 
& wom5-own$ cannabis-relat$ legitimate  
bus9esses4  #aj4 ,,gao /udy on          
effectiv5ess ( c]ta9 reports on f9d+    
c]ta9 p]sons ,n lat] ?an #b ye>s aft] ! 
date ( ! enactm5t ( ?is ,act1 !         
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all c>ry out a /udy on ! effectiv5ess (
 reports on suspici\s transactions fil$ 
pursuant to section #ecah7;g7 ( title   
#ca1 ,unit$ ,/ates ,code1 at f9d+       
individuals or organizations suspect$ or
 kn[n to be engag$ ) transnational      
crim9al organizations & :e!r any su*    
engagem5t exi/s 9 a ,/ate1 political    
subdivision1 or ,indian ,tribe t has    

jurisdiction ov] ,indian c\ntry t all[s 
! cultivation1 production1 manufacture1 
sale1 transportation1 display1 disp5s+1 
di/ribution1 or pur*ase ( cannabis4 ,!  
/udy %all exam9e reports on suspici\s   
transactions z foll[s3  7#a7 ,dur+ !    
p]iod ( #bjad until ! date ( ! enactm5t 
( ?is ,act1 reports relat+ to           
m>ijuana-relat$ bus9esses4  7#b7 ,dur+ !
 #a-ye> p]iod aft] date ( ! enactm5t (  
?is ,act1 reports relat+ to             
cannabis-relat$ legitimate bus9esses4   
#aa4 ,def9itions ,9 ?is ,act3 7#a7      
,bus9ess ( insurance ,! t]m bus9ess (   
insurance has ! mean+ giv5 su* t]m 9    
section #ajjb ( ! ,dodd-,frank ,wall    
,/reet ,re=m & ,consum] ,protection ,act
 7#ab ,u4,s4,c4 #edha74  7#b7 ,cannabis 
,! t]m cannabis has ! mean+ giv5 ! t]m  
m>ihuana 9 section #ajb ( ! ,controll$  
,sub/ances ,act 7#ba ,u4,s4,c4 #hjb74   
7#c7 ,cannabis product ,! t]m cannabis  
product means any article :i* conta9s   
cannabis1 includ+ an article :i* is a   
conc5trate1 an edible1 a t9cture1 a     

cannabis-infus$ product1 or a topical4  
7#d7 ,cannabis-relat$ legitimate bus9ess
 ,! t]m cannabis-relat$ legitimate      
bus9ess means a manufactur]1 produc]1 or
 any p]son or company t-- 7,a7 engages 9
 any activity describ$ 9 subp>agraph    
7,b7 pursuant to a law e/abli%$ by a    
,/ate or a political subdivision ( a    
,/ate1 z det]m9$ by su* ,/ate or        
political subdivision2 &  7,b7          
p>ticipates 9 any bus9ess or organiz$   
activity t involves h&l+ cannabis or    
cannabis products1 includ+ cultivat+1   
produc+1 manufactur+1 sell+1 transport+1
 display+1 disp5s+1 di/ribut+1 or       
pur*as+ cannabis or cannabis products4  
7#e7 ,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$it ,union ,act 7#ab ,u4,s4,c4      
#ageb74  7#f7 ,f$]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$]al ,deposit          
,insurance ,corporation1 ! ,f9ancial    
,crimes ,en=cem5t ,network1 ! ,(fice (  
,=eign ,asset ,control1 ! ,(fice ( !    
,comptroll] ( ! ,curr5cy1 ! ,national   
,cr$it ,union ,adm9i/ration1 ! ,dep>tm5t
 ( ! ,treasury1 or any ,f$]al ag5cy or  
dep>tm5t t regulates bank+ or f9ancial  
s]vices1 z det]m9$ by ! ,secret>y ( !   
,treasury4  7#g7 ,f9ancial s]vice ,! t]m
 f9ancial s]vice-- 7,a7 means a f9ancial
 product or s]vice1 z def9$ 9 section   
#ajjb ( ! ,dodd-,frank ,wall ,/reet     
,re=m & ,consum] ,protection ,act 7#ab  
,u4,s4,c4 #edha72  7,b7 includes !      
bus9ess ( insurance2  7,c7 includes1    
:e!r p]=m$ directly or indirectly1 !    
au?oriz+1 process+1 cle>+1 settl+1      
bill+1 transf]r+ = deposit1 transmitt+1 
deliv]+1 in/ruct+ to be deliv]$1        

reconcil+1 collect+1 or o!rwise         
effectuat+ or facilitat+ ( paym5ts or   
funds1 :]e su* paym5ts or funds are made
 or transf]r$ by any means1 includ+ by !
 use ( cr$it c>ds1 debit c>ds1 o!r      
paym5t c>ds1 or o!r access devices1     
acc\nts1 orig9al or sub/itute *ecks1 or 
electronic funds transf]s2  7,d7        
includes act+ z a money transmitt+      
bus9ess :i* directly or indirectly makes
 use ( a depository in/itution 9        
connection ) effectuat+ or facilitat+ a 
paym5t = a cannabis-relat$ legitimate   
bus9ess or s]vice provid] 9 compliance )
 section #eccj ( title #ca1 ,unit$      
,/ates ,code1 & any applicable ,/ate    
law2 &  7,e7 includes act+ z an armor$  
c> s]vice = process+ & deposit+ ) a     
depository in/itution or ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em )   
respect to any monet>y in/rum5ts 7z     
def9$ "u section #aief7;c77#e7 ( title  
#ah1 ,unit$ ,/ates ,code74  7#h7 ,indian
 c\ntry ,! t]m ,indian c\ntry has !     
mean+ giv5 t t]m 9 section #aaea ( title

 #ah4  7#i7 ,indian ,tribe ,! t]m       
,indian ,tribe has ! mean+ giv5 t t]m 9 
section #ajb ( ! ,f$]ally ,recogniz$    
,indian ,tribe ,li/ ,act ( #aiid 7#be   
,u4,s4,c4 #dgi;a74  7#aj7 ,insur] ,! t]m
 insur] has ! mean+ giv5 t t]m "u       
section #cac7r7 ( title #ca1 ,unit$     
,/ates ,code4  7#aa7 ,manufactur] ,! t]m
 manufactur] means a p]son :o           
manufactures1 comp\nds1 conv]ts1        
processes1 prep>es1 or packages cannabis
 or cannabis products4  7#ab7 ,produc]  
,! t]m produc] means a p]son :o plants1 
cultivates1 h>ve/s1 or 9 any way        
facilitates ! natural gr[? ( cannabis4  
7#ac7 ,s]vice provid] ,! t]m s]vice     
provid]-- 7,a7 means a bus9ess1         
organization1 or o!r p]son t--  7i7     
sells goods or s]vices to a             
cannabis-relat$ legitimate bus9ess2 or  
7ii7 provides any bus9ess s]vices1      
includ+ ! sale or lease ( real or any   
o!r prop]ty1 legal or o!r lic5s$        
s]vices1 or any o!r ancill>y s]vice1    
relat+ to cannabis2 &  7,b7 does n      

include a bus9ess1 organization1 or o!r 
p]son t p>ticipates 9 any bus9ess or    
organiz$ activity t involves h&l+       
cannabis or cannabis products1 includ+  
cultivat+1 produc+1 manufactur+1 sell+1 
transport+1 display+1 disp5s+1          
di/ribut+1 or pur*as+ cannabis or       
cannabis products4  7#ad7 ,/ate ,! t]m  
,/ate means ea* ( ! sev]al ,/ates1 !    
,di/rict ( ,columbia1 ,pu]to ,rico1 &   
any t]ritory or possession ( ! ,unit$   
,/ates4