,,ii  #aah? ,,congress  #a/ ,session    
,s4 #bhfj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bj1         
#bjbc,mr4 ,m]kley 7= himself1 ,mr4      
,da9es1 ,mr4 ,s*um]1 ,ms4 ,s9ema1 ,ms4  
,lummis1 ,mr4 ,cram]1 ,mr4 ,book]1 ,mr4 
,sullivan1 ,mr4 ,m55dez1 ,mr4 ,k+1 ,mr4 
,wyd51 ,ms4 ,ros51 & ,mr4 ,fett]man7    
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to create protections =        
f9ancial in/itutions t provide f9ancial 
s]vices to ,/ate-sanction$ m>ijuana     
bus9esses & s]vice provid]s = su*       
bus9esses1 & = o!r purposes4  #a4 ,%ort 
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,secure ,&    
,fair ,en=cem5t ,regulation ,bank+ ,act 
or ! ,,saf] ,bank+ ,act4  7b7 ,table (  
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3 ,sec4 #a4 ,%ort title2 table 
( cont5ts4,sec4 #b4 ,def9itions4,sec4   
#c4 ,safe h>bor = depository            
in/itutions4,sec4 #d4 ,protections =    

provid+ s]vices to ,/ate-sanction$      
m>ijuana bus9esses4,sec4 #e4            
,protections "u ,f$]al law4,sec4 #f4    
,requirem5ts = fil+ suspici\s activity  
reports4,sec4 #g4 ,guidance & exam9ation
 proc$ures4,sec4 #h4 ,bank+ s]vices =   
hemp-relat$ legitimate bus9esses &      
hemp-relat$ s]vice provid]s4,sec4 #i4   
,treatm5t ( income d]iv$ f a            
,/ate-sanction$ m>ijuana bus9ess =      
qualification = a cov]$ mortgage        
loan4,sec4 #aj4 ,requirem5ts = deposit  
acc\nts4,sec4 #aa4 ,annual access to    
f9ancial s]vices report4,sec4 #ab4 ,,gao
 /udy on b>ri]s to m>ketplace           
entry4,sec4 #ac4 ,,gao /udy on          
effectiv5ess ( c]ta9 reports on f9d+    
c]ta9 p]sons4,sec4 #ad4 ,applicability  
to hemp-relat$ legitimate bus9esses &   
hemp-relat$ s]vice provid]s4,sec4 #ae4  
,rules ( con/ruction4  #b4 ,def9itions  
,9 ?is ,act3 7#a7 ,bus9ess ( insurance  
,! t]m bus9ess ( insurance has ! mean+  
giv5 ! t]m 9 section #ajjb ( ! ,consum] 
,f9ancial ,protection ,act ( #bjaj 7#ab 

,u4,s4,c4 #edha74  7#b7 ,,cbd ,! t]m    
,,cbd means cannabidiol4  7#c7          
,community developm5t f9ancial          
in/itution ,! t]m community developm5t  
f9ancial in/itution has ! mean+ giv5 !  
t]m 9 section #ajc ( ! ,community       
,developm5t ,bank+ & ,f9ancial          
,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4
 #dgjb74  7#d7 ,depository in/itution   
,except :]e o!rwise expressly provid$1 !
 t]m depository in/itution-- 7,a7       
means-- 7i7 a depository in/itution1 z  
def9$ 9 section #c7;c7 ( ! ,f$]al       
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac7;c772  7ii7 a ,f$]al cr$it union1 
z def9$ 9 section #aja ( ! ,f$]al ,cr$it
 ,union ,act 7#ab ,u4,s4,c4 #ageb72 &   
7iii7 a ,/ate cr$it union1 z def9$ 9    
section #aja ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageb72 &  7,b7     
includes any m9ority depository         
in/itution1 z def9$ 9 section #cjh ( !  
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 
#adfc note74  7#e7 ,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$]al
 ,deposit ,insurance ,corporation1 !    
,f$]al ,h\s+ ,f9ance ,ag5cy1 ! ,(fice ( 
! ,comptroll] ( ! ,curr5cy1 ! ,national 
,cr$it ,union ,adm9i/ration1 ! ,dep>tm5t
 ( ! ,treasury 7includ+ ! ,f9ancial     
,crimes ,en=cem5t ,network & ! ,(fice ( 
,=eign ,assets ,control71 or any ,f$]al 
ag5cy or dep>tm5t t regulates bank+ or  
f9ancial s]vices1 z det]m9$ by !        
,secret>y ( ! ,treasury4  7#f7 ,f9ancial
 product or s]vice ,! t]m f9ancial      
product or s]vice has ! mean+ giv5 ! t]m
 9 section #ajjb ( ! ,consum] ,f9ancial 
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#edha74  7#g7 ,f9ancial s]vice ,! t]m   
f9ancial s]vice-- 7,a7 means-- 7i7 a    
f9ancial product or s]vice1 reg>dless ( 
:e!r ! cu/om] receiv+ ! product or      
s]vice is a consum] or comm]cial entity2
 or  7ii7 a f9ancial product or s]vice1 
or any comb9ation ( products & s]vices1 

p]mitt$ to be provid$ by-- 7,i7 a       
national bank or a f9ancial subsidi>y   
pursuant to ! au?ority provid$ "u-- 7aa7
 ! p>agraph designat$ z ! ,sev5? (      
section #eacf ( ! ,revis$ ,/atutes 7#ab 
,u4,s4,c4 #bd72 or  7bb7 section        
#eacf;,a ( ! ,revis$ ,/atutes 7#ab      
,u4,s4,c4 #bd;a72  7,,ii7 a ,f$]al cr$it
 union1 pursuant to ! au?ority provid$  
"u ! ,f$]al ,cr$it ,union ,act 7#ab     
,u4,s4,c4 #agea et seq472 or  7,,iii7 a 
community developm5t f9ancial           
in/itution2 &  7,b7 includes-- 7i7 !    
bus9ess ( insurance2  7ii7 :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]$1        
reconcil+1 collect+1 or o!rwise         
effectuat+ or facilitat+ ! paym5t (     
funds t are made or transf]r$ 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  7iii7 act+ z a money         
transmitt+ bus9ess t directly or        
indirectly makes use ( a depository     
in/itution 9 connection ) effectuat+ or 
facilitat+ a paym5t = a ,/ate-sanction$ 
m>ijuana bus9ess or s]vice provid] 9    
compliance ) section #eccj ( title #ca1 
,unit$ ,/ates ,code1 & any applicable   
,/ate or ,tribal law2 &  7iv7 act+ z an 
armor$ c> s]vice = process+ & deposit+ )
 a depository in/itution or a ,f$]al    
res]ve bank ) respect to any monet>y    
in/rum5ts1 z def9$ 9 section            
#aief7;c77#e7 ( title #ah1 ,unit$ ,/ates
 ,code4  7#h7 ,hemp ,! t]m hemp has !   
mean+ giv5 ! t]m 9 section #big;,a ( !  
,agricultural ,m>ket+ ,act ( #aidf 7#g  
,u4,s4,c4 #afcio74  7#i7 ,hemp-relat$   
legitimate bus9ess ,! t]m hemp-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 9 con=mity ) !         
,agriculture ,improvem5t ,act ( #bjah   
7,public ,law #aae-ccd2 #acb ,/at4      

#ddij71 am5dm5ts made by t ,act1 & !    
regulations issu$ to implem5t t ,act by 
! ,dep>tm5t ( ,agriculture1 :]e         
applicable1 & ! law ( a ,/ate1 an       
,indian ,tribe1 or a political          
subdivision ( a ,/ate2 &  7,b7          
p>ticipates 9 any bus9ess or organiz$   
activity t involves h&l+ hemp1          
hemp-d]iv$ ,,cbd products1 & o!r        
hemp-d]iv$ cannab9oid products1 includ+ 
cultivat+1 produc+1 extract+1           
manufactur+1 sell+1 transport+1         
display+1 disp5s+1 di/ribut+1 or pur*as+
 hemp1 hemp-d]iv$ ,,cbd products1 & o!r 
hemp-d]iv$ cannab9oid products4  7#aj7  
,hemp-relat$ s]vice provid] ,! t]m      
hemp-relat$ s]vice provid]-- 7,a7 means 
a bus9ess1 organization1 or o!r p]son   
t-- 7i7 sells goods or s]vices to a     
hemp-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     
hemp1 hemp-d]iv$ ,,cbd products1 or o!r 

hemp-d]iv$ cannab9oid products2 &  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+   
hemp1 hemp-d]iv$ ,,cbd products1 or o!r 
hemp-d]iv$ cannab9oid products1 includ+ 
cultivat+1 produc+1 manufactur+1 sell+1 
transport+1 display+1 disp5s+1          
di/ribut+1 or pur*as+ hemp1 hemp-d]iv$  
,,cbd products1 & o!r hemp-d]iv$        
cannab9oid products4  7#aa7 ,indian     
,tribe ,! t]m ,indian ,tribe has ! mean+
 giv5 ! t]m ,indian tribe 9 section #ajb
 ( ! ,f$]ally ,recogniz$ ,indian ,tribe 
,li/ ,act ( #aiid 7#be ,u4,s4,c4 #eacj74
  7#ab7 ,insur] ,! t]m insur] has !     
mean+ giv5 ! t]m 9 section #cac7r7 (    
title #ca1 ,unit$ ,/ates ,code4  7#ac7  
,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#ad7  
,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#ae7 ,m>ijuana       
product ,! t]m m>ijuana product means   
any article t conta9s m>ijuana1 includ+ 
an article t is a conc5trate1 an edible1
 a t9cture1 a m>ijuana-infus$ product1  
or a topical4  7#af7 ,produc] ,! t]m    
produc] means a p]son :o plants1        
cultivates1 h>ve/s1 or 9 any way        
facilitates ! natural gr[? ( m>ijuana4  
7#ag7 ,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 ,/ate-sanction$  
m>ijuana 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 a ,/ate-sanction$     
m>ijuana bus9ess2 &  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+ 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 products4  
7#ah7 ,/ate ,! t]m ,/ate means ea* ( !  
sev]al ,/ates1 ! ,di/rict ( ,columbia1 !
 ,commonweal? ( ,pu]to ,rico1 & any     
t]ritory or possession ( ! ,unit$       
,/ates4  7#ai7 ,/ate-sanction$ m>ijuana 
bus9ess ,! t]m ,/ate-sanction$ m>ijuana 
bus9ess means a manufactur]1 produc]1 or
 any p]son t-- 7,a7 engages 9 any       
activity describ$ 9 subp>agraph 7,b7    
pursuant to a law e/abli%$ by a ,/ate1  
an ,indian ,tribe1 or a political       
subdivision ( a ,/ate1 z det]m9$ by su* 
,/ate1 ,indian ,tribe1 or political     
subdivision2 &  7,b7 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 products4  #c4 ,safe h>bor =   
depository in/itutions  7a7 ,prohibition
 ,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$it ,union ,act 7#ab ,u4,s4,c4
 #agea et seq47 or take any o!r adv]se  
action aga9/ a depository in/itution "u 
! ,f$]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 ,/ate-sanction$   
m>ijuana bus9ess or s]vice provid]2     
7#b7 prohibit a depository in/itution f 
provid+1 or p5alize a depository        
in/itution = provid+1 f9ancial s]vices  
to-- 7,a7 a ,/ate-sanction$ m>ijuana    
bus9ess or s]vice provid] solely because
 ! bus9ess or s]vice provid] is a       
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]2 or  7,b7 a ,/ate1 an    
,indian ,tribe1 or a political          
subdivision ( a ,/ate solely because t  
entity ex]cises jurisdiction ov]        
,/ate-sanction$ m>ijuana 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]1 solely         
because-- 7,a7 ! acc\nt hold] is a      
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]1 or is an employee1 own]1
 or op]ator ( a ,/ate-sanction$ m>ijuana
 bus9ess or s]vice provid]2  7,b7 !     
acc\nt hold] lat] becomes an employee1  
own]1 or op]ator ( a ,/ate-sanction$    
m>ijuana bus9ess or s]vice provid]2 or  
7,c7 ! depository in/itution 0 n aw>e1  
aft] conduct+ suffici5t risk-bas$ cu/om]
 due dilig5ce 9 accordance ) applicable 
requirem5ts1 t ! acc\nt hold] is an     
employee1 own]1 or op]ator ( a          
,/ate-sanction$ m>ijuana 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 ,/ate-sanction$        
m>ijuana bus9ess or s]vice provid]1     
solely because ! bus9ess is a           
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]2  7,b7 an employee1 own]1

 or op]ator ( a ,/ate-sanction$ m>ijuana
 bus9ess or s]vice provid]1 solely      
because ! employee1 own]1 or op]ator is 
employ$ by1 owns1 or op]ates a          
,/ate-sanction$ m>ijuana 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 ,/ate-sanction$
 m>ijuana 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 ,/ate-sanction$      
m>ijuana bus9ess or s]vice provid]1 z   
applicable2 or  7#e7 prohibit a         
depository in/itution 7or entity p]=m+ a
 f9ancial s]vice = or 9 association ) a 
depository in/itution7 f1 or p5alize a  
depository in/itution 7or entity p]=m+ a
 f9ancial s]vice = or 9 association ) a 
depository in/itution7 =1 engag+ 9 a    
f9ancial s]vice = a ,/ate-sanction$     
m>ijuana bus9ess or s]vice provid]      
solely because ! bus9ess or s]vice      
provid] is a ,/ate-sanction$ m>ijuana   
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  #d4 ,protections = provid+ 
s]vices to ,/ate-sanction$ m>ijuana     
bus9esses ,= ! purposes ( sections #aief
 & #aieg ( title #ah1 ,unit$ ,/ates     
,code1 & all o!r provisions ( ,f$]al    
law1 ! proce$s f m>ijuana-relat$        
activities ( a ,/ate-sanction$ m>ijuana 
bus9ess or s]vice provid] t conducts all
 ( its m>ijuana-relat$ activity 9       
compliance ) ! m>ijuana-relat$ law ( !  
,/ate1 ,indian ,tribe1 or political     
subdivision ( ! ,/ate %all n be consid]$
 proce$s f an unlawful activity solely  
because-- 7#a7 ! transaction involves   
proce$s f a ,/ate-sanction$ m>ijuana    
bus9ess or s]vice provid]2 or  7#b7 !   
transaction involves proce$s f-- 7,a7   
m>ijuana-relat$ activities describ$ 9   
section #b7ai77;,b7 conduct$ by a       
,/ate-sanction$ m>ijuana bus9ess2 or    

7,b7 activities describ$ 9 section      
#b7ag77;,a7 conduct$ by a s]vice        
provid]4  #e4 ,protections "u ,f$]al law
  7a7 ,9 g5]al ,) respect to provid+ a  
f9ancial s]vice to a ,/ate-sanction$    
m>ijuana bus9ess 7:]e su*               
,/ate-sanction$ m>ijuana bus9ess op]ates
 )9 a ,/ate1 an ,indian ,tribe1 or a    
political subdivision ( a ,/ate t all[s 
! cultivation1 production1 manufacture1 
sale1 transportation1 display1 disp5s+1 
di/ribution1 or pur*ase ( m>ijuana      
pursuant to a law or regulation ( su*   
,/ate1 ,indian ,tribe1 or political     
subdivision1 z applicable7 or a s]vice  
provid] 7:]ev] locat$71 a depository    
in/itution1 an entity p]=m+ a f9ancial  
s]vice = or 9 association ) a depository
 in/itution1 a community developm5t     
f9ancial in/itution1 or an insur] t     
provides a f9ancial s]vice to a         
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]1 & ! (fic]s1 directors1  
employees1 & ag5ts ( t depository       
in/itution1 entity1 community developm5t

 f9ancial in/itution1 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$]al     
res]ve banks & ,f$]al ,home ,loan ,banks
 ,) respect to provid+ a s]vice to a    
depository in/itution t provides a      
f9ancial s]vice to a ,/ate-sanction$    
m>ijuana bus9ess 7:]e su*               
,/ate-sanction$ m>ijuana bus9ess op]ates
 )9 a ,/ate1 an ,indian ,tribe1 or a    
political subdivision ( a ,/ate t all[s 
! cultivation1 production1 manufacture1 
sale1 transportation1 display1 disp5s+1 
di/ribution1 or pur*ase ( m>ijuana      
pursuant to a law or regulation ( su*   
,/ate1 ,indian ,tribe1 or political     
subdivision1 z applicable7 or s]vice    
provid] 7:]ev] locat$71 a ,f$]al res]ve 
bank or ,f$]al ,home ,loan ,bank1 & !   
(fic]s1 directors1 & employees ( !      
,f$]al res]ve bank or ,f$]al ,home ,loan
 ,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 ,protections = insur]s ,)  
respect to engag+ 9 ! bus9ess (         
insurance )9 a ,/ate1 an ,indian ,tribe1
 or a political subdivision ( a ,/ate t 
all[s ! cultivation1 production1        
manufacture1 sale1 transportation1      
display1 disp5s+1 di/ribution1 or       
pur*ase ( m>ijuana pursuant to a law or 
regulation ( su* ,/ate1 ,indian ,tribe1 
or political subdivision1 z applicable1 
an insur] t engages 9 ! bus9ess (       
insurance ) a ,/ate-sanction$ m>ijuana  
bus9ess or s]vice provid] or t o!rwise  
engages ) a p]son 9 a transaction       
p]missible pursuant to a law 7includ+   
regulations7 ( su* ,/ate1 ,indian       
,tribe1 or political subdivision relat$ 
to m>ijuana1 & ! (fic]s1 directors1 &   
employees ( t insur]1 may n be held     
liable pursuant to any ,f$]al law or    
regulation-- 7#a7 solely = engag+ 9 !   
bus9ess ( insurance2 or  7#b7 = fur!r   

inve/+ any income d]iv$ f ! bus9ess (   
insurance4  7d7 ,=feiture  7#a7         
,depository in/itutions & community     
developm5t f9ancial in/itutions ,a      
depository in/itution or community      
developm5t f9ancial 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          
,/ate-sanction$ m>ijuana 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 ,/ate-sanction$ m>ijuana      
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$]al law solely =     
provid+ su* loan or o!r f9ancial s]vice4
  7#b7 ,f$]al res]ve banks & ,f$]al     
,home ,loan ,banks ,a ,f$]al res]ve bank
 or ,f$]al ,home ,loan ,bank t has a    
legal int]e/ 9 ! collat]al = a loan or  
ano!r f9ancial s]vice provid$ to a      
depository in/itution t provides a      
f9ancial s]vice to a ,/ate-sanction$    

m>ijuana 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        
,/ate-sanction$ m>ijuana 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$]al
 law = provid+ su* loan or o!r f9ancial 
s]vice4  7#c7 ,f$]al national mortgage  
association1 f$]al home loan mortgage   
corporation1 & f$]al ag5cies mak+1      
insur+1 or gu>antee+ mortgage loans or  
securities ,! ,f$]al ,national ,mortgage
 ,association1 ! ,f$]al ,home ,loan     
,mortgage ,corporation1 & any ,f$]al    
ag5cy t has a legal int]e/ 9 ! collat]al
 = a resid5tial mortgage loan1 includ+  
individual units ( condom9iums &        
coop]atives1 provid$ t ! collat]al is a 
prop]ty design$ pr9cipally = ! occupancy
 ( #a to #d families & und]writt51 9    
:ole or 9 "p1 bas$ on income f a        
,/ate-sanction$ m>ijuana 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$]al
 law = provid+1 insur+1 gu>antee+1      
pur*as+1 securitiz+1 or gu>antee+       
paym5ts f a security bas$ on su* loan4  
7#d7 ,o!r p>ties to mortgage loans ,a   
nondepository l5d] t makes a cov]$      
mortgage loan1 z def9$ 9 section #i7;a71
 & any p]son :o o!rwise has a legal     
int]e/ 9 su* a loan or 9 ! collat]al ( !
 loan1 includ+ individual units (       
condom9iums & coop]atives1 provid$ t !  
collat]al is a prop]ty design$          
pr9cipally = ! occupancy ( #a to #d     
families & und]writt51 9 :ole or 9 "p1  
bas$ on income f a ,/ate-sanction$      
m>ijuana 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$]al law = provid+1   
pur*as+1 securitiz+1 accept+1 & mak+    
paym5ts relat$ to su* cov]$ mortgage    
loan solely because loan paym5ts or     
und]writ+ are bas$ on income t is 9 :ole
 or 9 "p f a ,/ate-sanction$ m>ijuana   
bus9ess or s]vice provid]4  7#e7        

,def9ition ,9 ?is subsection1 ! t]m     
collat]al does n include m>ijuana or a  
m>ijuana product4  #f4 ,requirem5ts =   
fil+ suspici\s activity reports ,section
 #ecah7;g7 ( title #ca1 ,unit$ ,/ates   
,code1 is am5d$-- 7#a7 by r$esignat+    
p>agraph 7#aa7 z p>agraph 7#ab72 &  7#b7
 by ins]t+ aft] p>agraph 7#aj7 ! foll[+ 
7#aa7 ,requirem5ts = ,/ate-sanction$    
m>ijuana bus9esses  7,a7 ,9 g5]al ,)    
respect to a f9ancial in/itution1 or any
 director1 (fic]1 employee1 or ag5t ( a 
f9ancial in/itution1 t reports a        
suspici\s transaction pursuant to ?is   
subsection1 if ! reason = ! report      
relates to a ,/ate-sanction$ m>ijuana   
bus9ess or s]vice provid]1 ! report %all
 comply ) appropriate guidance issu$ by 
! ,secret>y ( ! ,treasury4 ,n lat] ?an !
 end ( ! #ahj-;day p]iod beg9n+ on !    
date ( enactm5t ( ! ,secure ,& ,fair    
,en=cem5t ,regulation ,bank+ ,act1 !    
,secret>y %all am5d ! ,febru>y #ad1     
#bjad1 guidance titl$ ,,bsa             
,expectations ,reg>d+ ,m>ijuana-,relat$ 

,bus9esses 7,,f9-#bjad-;,g#jja7 or issue
 new guidance to ensure consi/5cy ) !   
purpose & int5t ( ! ,secure ,& ,fair    
,en=cem5t ,regulation ,bank+ ,act1 & !  
am5dm5ts made by t ,act1 & t su*        
guidance ensures t a f9ancial           
in/itution1 & any director1 (fic]1      
employee1 or ag5t ( a f9ancial          
in/itution1 cont9ues to report suspici\s
 transactions pursuant to ?is           
subsection1 z applicable1 relat+ to     
,/ate-sanction$ m>ijuana bus9esses &    
s]vice provid]s to pres]ve ! ability ( !
 ,f9ancial ,crimes ,en=cem5t ,network to
 prev5t & combat illicit activity4  7,b7
 ,def9itions ,9 ?is p>agraph3 7i7       
,f9ancial s]vice2 s]vice provid]2 ,/ate2
 ,/ate-sanction$ m>ijuana bus9ess ,!    
t]ms f9ancial s]vice1 s]vice provid]1   
,/ate1 & ,/ate-sanction$ m>ijuana       
bus9ess h ! mean+s giv5 ! t]ms 9 section
 #b ( ! ,,saf] ,bank+ ,act4  7ii7       
,indian c\ntry ,! t]m ,indian c\ntry has
 ! mean+ giv5 ! t]m 9 section #aaea (   
title #ah4  7iii7 ,indian ,tribe ,! t]m 

,indian ,tribe has ! mean+ giv5 ! t]m   
,indian tribe 9 section #ajb ( !        
,f$]ally ,recogniz$ ,indian ,tribe ,li/ 
,act ( #aiid 7#be ,u4,s4,c4 #eacj74     
7iv7 ,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  4  #g4 ,guidance &    
exam9ation proc$ures  7a7 ,uni=m        
guidance & exam9ation proc$ures ,n lat] 
?an #a ye> aft] ! date ( enactm5t ( ?is 
,act1 ! ,f$]al ,f9ancial ,in/itutions   
,exam9ation ,c\ncil1 9 consultation ) ! 
,dep>tm5t ( ! ,treasury1 %all develop   
uni=m guidance & exam9ation proc$ures = 
depository in/itutions t provide        
f9ancial s]vices to ,/ate-sanction$     
m>ijuana bus9esses & s]vice provid]s4   
7b7 ,legacy deposits ,! guidance &      
exam9ation proc$ures describ$ 9         
subsection 7a7 %all p]mit a depository  
in/itution to accept a deposit ( curr5cy
 f a ,/ate-sanction$ m>ijuana bus9ess   
if-- 7#a7 ! bus9ess receiv$ ! curr5cy   
dur+ ! #ij-;day p]iod end+ on ! date on 

:i* ! bus9ess comm5c$ its relation%ip ) 
! depository in/itution2  7#b7 ! bus9ess
 provid$ ! depository in/itution )      
records suffici5t to demon/rate ! s\rce 
( ! curr5cy be+ deposit$ by ! bus9ess2  
7#c7 ! am\nt ( ! curr5cy is reasonable 9
 light ( ! expect$ rev5ue ( ! bus9ess1 z
 det]m9$ by ! depository in/itution     
consi/5t ) ! risk-bas$ proc$ures =      
ensur+ compliance ) ! section #ecah7;h7 
( title #ca1 ,unit$ ,/ates ,code1 & any 
applicable regulations implem5t+ t      
section2 &  7#d7 ! depository in/itution
 complies ) any o!r applicable report+  
requirem5ts pursuant to sub*apt] ,,ii ( 
*apt] #ec ( title #ca1 ,unit$ ,/ates    
,code1 & any applicable regulations     
implem5t+ t sub*apt]4  #h4 ,bank+       
s]vices = hemp-relat$ legitimate        
bus9esses & hemp-relat$ s]vice provid]s 
7a7 ,f9d+s ,congress f9ds t-- 7#a7      
section #abfai ( ! ,agriculture         
,improvem5t ,act ( #bjah 7,public ,law  
#aae-ccd2 #acb ,/at4 #ejah7 legaliz$    
hemp by remov+ x f ! def9ition (        

m>ihuana "u section #ajb ( ! ,controll$ 
,sub/ances ,act 7#ba ,u4,s4,c4 #hjb72   
7#b7 despite ! legalization ( hemp1 "s  
hemp bus9esses 7includ+ produc]s1       
manufactur]s1 & retail]s7 cont9ue to h  
difficulty ga9+ access to bank+ products
 & s]vices2 &  7#c7 bus9esses involv$ 9 
! sale ( hemp-d]iv$ ,,cbd products are  
p>ticul>ly affect$1 due to confusion    
ab\t ! legal /atus ( su* products4  7b7 
,def9ition ,9 ?is section1 ! t]m        
f9ancial in/itution-- 7#a7 has ! mean+  
giv5 ! t]m 9 section #ecab7;a7 ( title  
#ca1 ,unit$ ,/ates ,code2 &  7#b7       
includes a bank hold+ company1 z def9$ 9
 section #b7;a7 ( ! ,bank ,hold+        
,company ,act ( #aief 7#ab ,u4,s4,c4    
#ahda7;a774  7c7 ,f$]al bank+           
regulators' hemp bank+ guidance ,n lat] 
?an ! end ( ! #ahj-;day p]iod beg9n+ on 
! date ( enactm5t ( ?is ,act1 ea* ,f$]al
 bank+ regulator %all update guidance1 z
 9 effect on ! date ( enactm5t ( ?is    
,act1 reg>d+ provid+ f9ancial s]vices to
 hemp-relat$ legitimate bus9esses &     

hemp-relat$ s]vice provid]s to address--
 7#a7 compliance ) obligations (        
f9ancial in/itutions1 z ( ! date (      
enactm5t ( ?is ,act1 "u ,f$]al laws     
7includ+ regulations7 det]m9$ relevant  
by ! ,f$]al bank+ regulator & !         
,dep>tm5t ( ! ,treasury1 includ+        
sub*apt] ,,ii ( *apt] #ec ( title #ca1  
,unit$ ,/ates ,code1 & its implem5t+    
regulation 9 con=mity ) ?is ,act & !    
regulations relat+ to dome/ic hemp      
production "u "p #iij ( title #g1 ,code 
( ,f$]al ,regulations2 &  7#b7 be/      
practices = f9ancial in/itutions to     
foll[ :5 provid+ f9ancial s]vices1      
includ+ process+ paym5ts1 to hemp-relat$
 legitimate bus9esses & hemp-relat$     
s]vice provid]s4  #i4 ,treatm5t ( income
 d]iv$ f a ,/ate-sanction$ m>ijuana     
bus9ess = qualification = a cov]$       
mortgage loan  7a7 ,def9ition ,9 ?is    
section1 ! t]m cov]$ mortgage loan means
 any loan secur$ by a fir/ or subord9ate
 li5 on resid5tial real prop]ty1 includ+
 individual units ( condom9iums &       

coop]atives1 design$ pr9cipally = !     
occupancy ( #a to #d families t is--    
7#a7 insur$ by ! ,f$]al ,h\s+           
,adm9i/ration "u title ,i or title ,,ii 
( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 
#agjb et seq41 #agjg et seq472  7#b7    
insur$ "u section #bee ( ! ,national    
,h\s+ ,act 7#ab ,u4,s4,c4 #agaez-#bj72  
7#c7 gu>ante$ "u section #ahd or #ahd;,a
 ( ! ,h\s+ & ,community ,developm5t ,act
 ( #aiib 7#ab ,u4,s4,c4 #agaez-#ac;a1   
#agaez-#ac;b72  7#d7 gu>ante$1 insur$1  
or made by ! ,dep>tm5t ( ,vet]ans       
,affairs2  7#e7 gu>ante$1 insur$1 or    
made by ! ,dep>tm5t ( ,agriculture2     
7#f7 pur*as$ or securitiz$ by ! ,f$]al  
,home ,loan ,mortgage ,corporation or ! 
,f$]al ,national ,mortgage ,association2
 or  7#g7 acquir$ or pur*as$ by a ,f$]al
 ,home ,loan ,bank or pl$g$ z collat]al 
= an advance f a ,f$]al ,home ,loan     
,bank4  7b7 ,treatm5t ( income  7#a7 ,9 
g5]al ,income d]iv$ f a ,/ate-sanction$ 
m>ijuana bus9ess t op]ates )9 a ,/ate1  
an ,indian ,tribe1 or a political       

subdivision ( a ,/ate t all[s !         
cultivation1 production1 manufacture1   
sale1 transportation1 display1 disp5s+1 
di/ribution1 or pur*ase ( m>ijuana      
pursuant to a law or regulation ( !     
,/ate1 ,indian ,tribe1 or political     
subdivision1 z applicable1 or a s]vice  
provid] 7:]ev] locat$71 %all be consid]$
 9 ! same mann] z any o!r legal income =
 purposes ( det]m9+ eligibility = a     
cov]$ mortgage loan = a #a- to #d-unit  
prop]ty t is ! pr9cipal resid5ce ( !    
mortgagor4  7#b7 ,liability ,! mortgagee
 or s]vic] ( a cov]$ mortgage loan      
describ$ 9 p>agraph 7#a71 or any ,f$]al 
ag5cy1 ! ,f$]al ,national ,mortgage     
,association1 or ! ,f$]al ,home ,loan   
,mortgage ,corporation1 may n be held   
liable pursuant to any ,f$]al law or    
regulation solely =-- 7,a7 provid+1     
insur+1 gu>antee+1 pur*as+1 or          
securitiz+ a mortgage to an o!rwise     
qualifi$ borr[] on ! basis ( ! income   
describ$ 9 p>agraph 7#a72 or  7,b7      
accept+ ! income describ$ 9 p>agraph    

7#a7 z paym5t on ! cov]$ mortgage loan4 
7c7 ,implem5tation ,n lat] ?an #ahj days
 aft] ! date ( enactm5t ( ?is ,act--    
7#a7 ! ,f$]al ,h\s+ ,adm9i/ration %all  
implem5t subsection 7b7-- 7,a7 by notice
 or mortgagee lett] = loans insur$ "u   
title ,i1 title ,,ii1 or section #bee ( 
! ,national ,h\s+ ,act 7#ab ,u4,s4,c4   
#agjb et seq41 #agjg et seq41           
#agaez-#bj72 &  7,b7 by l5d] lett] =    
loans gu>ante$ "u section #ahd or       
#ahd;,a ( ! ,h\s+ & ,community          
,developm5t ,act ( #aiib 7#ab ,u4,s4,c4 
#agaez-#ac;a1 #agaez-#ac;b72  7#b7 !    
,dep>tm5t ( ,vet]ans ,affairs %all      
implem5t subsection 7b7 by circul> or   
h&book = loans gu>ante$1 insur$1 or made
 by ! ,dep>tm5t2  7#c7 ! ,dep>tm5t (    
,agriculture %all implem5t subsection   
7b7 by bullet9 = loans gu>ante$ or made 
by ! ,dep>tm5t2  7#d7 ! ,f$]al ,home    
,loan ,mortgage ,corporation %all       
implem5t subsection 7b7 by updat+ its   
,s+le-,family ,sell]_/,s]vic] ,guide =  
loans pur*as$ or securitiz$ by !        

,corporation2 &  7#e7 ! ,f$]al ,national
 ,mortgage ,association %all implem5t   
subsection 7b7 by updat+ its ,s+le      
,family ,sell+ ,guide = loans pur*as$ or
 securitiz$ by ! ,association4  #aj4    
,requirem5ts = deposit acc\nts  7a7     
,s5se ( ,congress ,x is ! s5se (        
,congress t-- 7#a7 appropriate ,f$]al   
bank+ ag5cies h a duty to ensure t !    
depository in/itutions sup]vis$ by ^?   
ag5cies-- 7,a7 are op]at+ 9 a safe &    
s\nd mann]2 &  7,b7 h processes &       
proc$ures 9 place to id5tify fraudul5t  
or illegal activity1 :e!r activity      
occurs at a depository in/itution or    
?r\gh v5dors or cu/om]s ) :i* a         
depository in/itution has a relation%ip2
  7#b7 ! duty describ$ 9 p>agraph 7#a7  
re/s on laws & regulations1 n on p]sonal
 beliefs or political motivations2  7#c7
 undue pressure & co]cion design$ to    
re/rict access to f9ancial s]vices =    
lawful bus9esses h no place at any      
appropriate ,f$]al bank+ ag5cy2  7#d7   
depository in/itutions %\ld provide     

bank+ s]vices 9 ! communities 9 :i* ^?  
in/itutions s]ve :ile c>ry+ out cu/om]  
id5tification1 risk-bas$ cu/om]         
dilig5ce1 & suspici\s activity monitor+ 
& report+ obligations "u sub*apt] ,,ii (
 *apt] #ec ( title #ca1 ,unit$ ,/ates   
,code 7ref]r$ to 9 ?is section z ! ,bank
 ,secrecy ,act71 ) respect to ! cu/om]s 
( ^? in/itutions2  7#e7 despite ! fact t
 individual cu/om]s ( depository        
in/itutions )9 broad] cu/om] categories 
pres5t v>y+ degrees ( risk1 all         
depository in/itutions %\ld take a      
risk-bas$ approa* 9 assess+ individual  
cu/om] relation%ips r ?an decl9e to     
provide bank+ s]vices to categories (   
cu/om]s )\t reg>d to ! risks pres5t$ by 
an individual cu/om] or ! ability ( !   
depository in/itution to manage ! risk2 
7#f7 depository in/itutions t prop]ly   
manage cu/om] relation%ips & risks are  
nei!r prohibit$ nor disc\rag$ f provid+ 
s]vices to cu/om]s t are op]at+ 9       
compliance ) applicable ,f$]al & ,/ate  
law2 &  7#g7 ea* depository in/itution  

is responsible = det]m9+ :e!r provid+   
s]vices to any p>ticul> cu/om] is       
consi/5t ) ! bus9ess plan1 risk pr(ile1 
& managem5t capabilities ( ! depository 
in/itution4  7b7 ,conditions = t]m9ation
  7#a7 ,9 g5]al ,an appropriate ,f$]al  
bank+ ag5cy may n reque/ or require a   
depository in/itution to t]m9ate a      
specific deposit acc\nt or gr\p (       
deposit acc\nts 7includ+1 b n limit$ to1
 any deposit acc\nt ( any cu/om] t is a 
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]71 unless-- 7,a7 !re is a 
valid reason = t reque/ or requirem5t1 z
 describ$ 9 p>agraph 7#b72 &  7,b7      
reputational risk is n ! dispositive    
factor = t reque/ or requirem5t4  7#b7  
,valid reasons  7,a7 ,9 g5]al ,to       
e/abli% a valid reason = a reque/ or    
requirem5t "u p>agraph 7#a71 !          
appropriate ,f$]al bank+ ag5cy %all     
docum5t t ! ag5cy-- 7i7 has reasonable  
cause to believe t ! applicable         
depository in/itution or any            
in/itution-affiliat$ p>ty has engag$1 is

 engag$1 or is ab\t to engage 9-- 7,i7  
an unsafe or uns\nd practice 9 conduct+ 
bus9ess2  7,,ii7 a violation ( an       
applicable law1 rule1 regulation1 ord]1 
condition impos$ 9 writ+1 =mal or in=mal
 en=cem5t action1 or writt5 ag5cy =mal  
or in=mal guidance1 :i* %all include !  
priorities = anti-money laund]+ & c\nt]+
 ! f9anc+ ( t]rorism policy e/abli%$ by 
! ,secret>y ( ! ,treasury "u section    
#ecah7;h77#d7 ( title #ca1 ,unit$ ,/ates
 ,code1 or o!rwise op]at+ 9 a mann] t is
 inconsi/5t ) requirem5ts ( ! ,bank     
,secrecy ,act2 or  7,,iii7 any activity1
 conduct1 or condition t c\ld lead to1  
or has l$ to1 ! issuance ( a matt]      
requir+ att5tion1 a matt] requir+       
imm$iate att5tion1 a matt] requir+ bo>d 
att5tion1 a docum5t ( resolution1 or a  
sup]visory recomm5dation2 or  7ii7 has  
ano!r reason1 det]m9$ to be valid 9 !   
discretion ( ! ag5cy1 = mak+ t reque/ or
 impos+ t requirem5t4  7,b7 ,treatm5t ( 
national security & illicit f9ance      
?reats ,if an appropriate ,f$]al bank+  

ag5cy has reasonable cause to believe t 
a specific cu/om] or gr\p ( cu/om]s is1 
or is act+ = or on behalf (1 an entity  
t-- 7i7 poses a ?reat to national       
security2  7ii7 is involv$ 9 t]rori/ or 
o!r illicit f9anc+2  7iii7 is an ag5t ( 
! ,gov]nm5t ( ,iran1 ,nor? ,korea1      
,syria1 or any c\ntry li/$ on ! ,/ate   
,sponsors ( ,t]rorism li/2  7iv7 is 91  
or is subject to ! jurisdiction (1 any  
c\ntry describ$ 9 clause 7iii72  7v7    
does bus9ess ) any entity describ$ 9    
clause 7iii7 or 7iv71 unless !          
appropriate ,f$]al bank+ ag5cy det]m9es 
t ! cu/om] or gr\p ( cu/om]s has        
conduct$ due dilig5ce to avoid do+      
bus9ess ) any entity describ$ 9 clause  
7iii7 or 7iv72 or  7vi7 is engag$ 9--   
7,i7 any o!r illicit conduct directly or
 indirectly support+ a transnational    
crim9al organization1 drug traffick+    
organization1 or money laund]+          
organization2 or  7,,ii7 any o!r crim9al
 activity1  su* belief %all satisfy !   
conditions p]mitt+ action by !          

appropriate ,f$]al bank+ ag5cy "u       
p>agraph 7#a74  7c7 ,notice requirem5t  
,if an appropriate ,f$]al bank+ ag5cy   
reque/s or requires a depository        
in/itution to t]m9ate a specific deposit
 acc\nt or a gr\p ( deposit acc\nts "u  
subsection 7b71 ! ag5cy %all-- 7#a7     
provide su* reque/ or requirem5t to !   
in/itution 9 writ+2 &  7#b7 accompany   
su* reque/ or requirem5t ) ! valid      
reason = ! reque/ or requirem5t1 z      
describ$ 9 subsection 7b77#b74  7d7     
,cu/om] notice  7#a7 ,notice requir$    
,except z provid$ 9 p>agraph 7#b71 or z 
o!rwise prohibit$ f disclosure by law1  
if an appropriate ,f$]al bank+ ag5cy    
reque/s or requires a depository        
in/itution to t]m9ate a deposit acc\nt  
"u subsection 7b71 ! depository         
in/itution %all notify 9 writ+ !        
specific cu/om] or gr\p ( cu/om]s1 !    
deposit acc\nt ( :i* is be+ t]m9at$1 ( !
 valid reason = t t]m9ation1 z det]m9$  
"u subsection 7b77#b74  7#b7 ,notice    
prohibit$  7,a7 ,notice prohibit$ 9     

cases ( national security & law en=cem5t
 inve/igations  7i7 ,9 g5]al ,nei!r a   
depository in/itution nor an appropriate
 ,f$]al bank+ ag5cy may provide !       
applicable cu/om] or gr\p ( cu/om]s ) ! 
notice requir$ "u p>agraph 7#a7 if--    
7,i7 a ,f$]al law en=cem5t ag5cy or an  
elem5t ( ! intellig5ce community advises
 ! depository in/itution or !           
appropriate ,f$]al bank+ ag5cy t !      
notice-- 7aa7 may int]f]e ) a matt] (   
national security2  7bb7 involves a     
matt] describ$ 9 subsection             
7b77#b77;,b72 or  7cc7 may int]f]e ) a  
law en=cem5t inve/igation1 crim9al      
prosecution1 or civil action br\ght by a
 gov]nm5t ag5cy2 or  7,,ii7 ! depository
 in/itution or appropriate ,f$]al bank+ 
ag5cy kn[s or %\ld "k t1 ) respect to t 
cu/om] or gr\p ( cu/om]s1 a crim9al     
prosecution or a law en=cem5t           
inve/igation is p5d+4  7ii7             
,consultation & recomm5dations ,an      
appropriate ,f$]al bank+ ag5cy &        
depository in/itution %all consult )1 & 

foll[ ! recomm5dations (1 a ,f$]al law  
en=cem5t ag5cy or elem5t ( ! intellig5ce
 community1 z applicable1 reg>d+ :e!r ! 
notice describ$ 9 p>agraph 7#a7 is      
requir$ "u t p>agraph or prohibit$ "u   
clause 7i7 ( ?is subp>agraph4  7,b7     
,notice prohibit$ 9 o!r cases ,if an    
appropriate ,f$]al bank+ ag5cy reque/s  
or requires a depository in/itution to  
t]m9ate a specific deposit acc\nt or a  
gr\p ( deposit acc\nts "u subsection    
7b71 nei!r ! depository in/itution nor !
 appropriate ,f$]al bank+ ag5cy may     
notify ! cu/om] or gr\p ( cu/om]s ( !   
ju/ification = t action1 if-- 7i7 t     
notice may-- 7,i7 disclose ! exi/5ce ( a
 report on suspici\s transactions fil$  
"u section #ecah7;g7 ( title #ca1 ,unit$
 ,/ates ,code2 or  7,,ii7 reveal        
confid5tial sup]visory in=mation or a   
conc]n ( an appropriate ,f$]al bank+    
ag5cy relat+ to an int]nal control ( a  
depository in/itution2 or  7ii7 !       
appropriate ,f$]al bank+ ag5cy has      
reasonable cause to believe t !         

depository in/itution or any            
in/itution-affiliat$ p>ty has engag$1 is
 engag$1 or is ab\t to engage 9-- 7,i7 a
 violation ( an applicable law1 rule1   
regulation1 ord]1 en=cem5t action1      
condition impos$ 9 writ+1 or =mal or    
in=mal writt5 ag5cy guidance2 or  7,,ii7
 an unsafe or uns\nd bank+ practice     
relat+ to t cu/om] or gr\p ( cu/om]s4   
7e7 ,report+ requirem5t ,ea* appropriate
 ,f$]al bank+ ag5cy %all-- 7#a7 submit  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs ( ! ,s5ate & !          
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives an annual report
 /at+-- 7,a7 ! aggregate numb] (        
specific deposit acc\nts t ! ag5cy      
reque/$ t a depository in/itution       
t]m9ate1 or requir$ a depository        
in/itution to t]m9ate1 dur+ ! previ\s   
ye>2 &  7,b7 ! legal au?ority on :i* !  
ag5cy reli$ 9 mak+ ea* reque/ &         
requirem5t "u subp>agraph 7,a7 & !      
frequ5cy on :i* ! ag5cy reli$ on ea* su*
 au?ority2 &  7#b7 be=e submitt+ ea*    

report requir$ "u p>agraph 7#a71 provide
 ! ,inspector ,g5]al ( ! ag5cy ) an     
opportunity to conduct an evaluation or 
review ( ! activity describ$ 9 t report1
 :i* ! ,inspector ,g5]al %all submit to 
! committees describ$ 9 p>agraph 7#a7   
concurr5tly ) ! submission ( ! report "u
 p>agraph 7#a74  7f7 ,increas+ access to
 deposit acc\nts = bus9esses & consum]s 
7#a7 ,9 g5]al ,n lat] ?an #b ye>s aft] !
 date ( enactm5t ( ?is ,act1 !          
appropriate ,f$]al bank+ ag5cies1 9     
consultation ) applicable ,/ate bank    
sup]visors1 ! ,secret>y ( ,comm]ce1 & ! 
,secret>y ( ! ,treasury1 %all           
collectively promulgate rules or        
guidance to increase access to deposit  
acc\nts = bus9esses & consum]s4  7#b7   
,/&>ds ,! rules or guidance promulgat$  
"u p>agraph 7#a7 %all include /&>ds =-- 
7,a7 ent]+ into & ma9ta9+ individual    
consum] relation%ips & relation%ips )   
categories ( consum]s2  7,b7 increas+   
access to deposit acc\nts-- 7i7 9 !     
communities 9 :i* depository in/itutions

 s]ve1 includ+ rural communities & l[- &
 mod]ate-income communities1 :i* may be 
tailor$ to acc\nt = ! bus9ess models (  
community banks & cr$it unions2 &  7ii7 
= ,tribal communities1 includ+ by       
ov]com+ hi/orical b>ri]s to au!nticat+ !
 id5tities ( individuals & o!r *all5ges 
to obta9+ deposit acc\nts2  7,c7        
depository in/itutions to use innovative
 te*nologies to increase access to      
deposit acc\nts :ile ma9ta9+ appropriate
 ?ird-p>ty risk managem5t & ov]sight2 & 
7,d7 features ( a deposit acc\nt t are  
responsive to ! ne$s ( an unbank$       
bus9ess or consum]4  7g7 ,bi5nial ,,fdic
 survey & report on access to deposit   
acc\nts by small & m$ium-siz$ bus9esses 
7#a7 ,9 g5]al ,! ,f$]al ,deposit        
,insurance ,corporation %all conduct a  
bi5nial survey on ! ef=ts ( depository  
in/itutions to provide great] access to 
deposit acc\nts to small & m$ium-siz$   
bus9esses t may h enc\nt]$ difficulties 
9 access+ or ma9ta9+ deposit acc\nts4   
7#b7 ,consid]ations ,9 conduct+ ea*     

survey requir$ "u p>agraph 7#a71 !      
,f$]al ,deposit ,insurance ,corporation 
%all consid] :at issues & b>ri]s mo/    
frequ5tly prev5t small & m$ium-siz$     
bus9esses f access+ or ma9ta9+ deposit  
acc\nts t are necess>y to op]ate ^?     
bus9esses4  7h7 ,rule ( con/ruction     
,no?+ 9 ?is section may be con/ru$ to   
limit or re/rict ! au?ority ( an        
appropriate ,f$]al bank+ ag5cy to-- 7#a7
 id5tify or discuss pot5tial sup]visory 
f9d+s ) ! /aff or managem5t ( a         
depository in/itution1 includ+ f9d+s    
involv+ f9ancial condition1 gov]nance1  
consum] protection1 int]nal controls1 or
 unsafe or uns\nd conditions2 or  7#b7  
id5tify or discuss defici5cies 9        
compliance or risks associat$ ) ! ,bank 
,secrecy ,act1 includ+ anti-money       
laund]+ or c\nt]+ ! f9anc+ ( t]rorism   
practices4  7i7 ,def9itions ,9 ?is      
section3 7#a7 ,appropriate ,f$]al bank+ 
ag5cy ,! t]m appropriate ,f$]al bank+   
ag5cy means-- 7,a7 ! appropriate ,f$]al 
bank+ ag5cy1 z def9$ 9 section #c ( !   

,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahac72 &  7,b7 ! ,national   
,cr$it ,union ,adm9i/ration1 9 ! case ( 
an insur$ cr$it union4  7#b7 ,depository
 in/itution ,! t]m depository in/itution
 means-- 7,a7 a depository in/itution1 z
 def9$ 9 section #c ( ! ,f$]al ,deposit 
,insurance ,act 7#ab ,u4,s4,c4 #ahac72 &
  7,b7 an insur$ cr$it union4  7#c7     
,intellig5ce community ,! t]m           
intellig5ce community has ! mean+ giv5 !
 t]m 9 section #c ( ! ,national         
,security ,act ( #aidg 7#ej ,u4,s4,c4   
#cjjc74  #aa4 ,annual access to f9ancial
 s]vices report ,! ,f$]al bank+         
regulators %all submit to ,congress an  
annual report conta9+-- 7#a7 in=mation &
 data on ! availability ( access to     
f9ancial s]vices = m9ority-own$1        
vet]an-own$1 wom5-own$1 ,tribal         
community-own$1 & small ,/ate-sanction$ 
m>ijuana bus9esses2 &  7#b7 any         
regulatory or legislative recomm5dations
 = exp&+ access to f9ancial s]vices =   
m9ority-own$1 vet]an-own$1 wom5-own$1   

,tribal community-own$1 & small         
,/ate-sanction$ m>ijuana bus9esses &    
hemp-relat$ legitimate bus9esses4  #ab4 
,,gao /udy on b>ri]s to m>ketplace entry
  7a7 ,/udy ,! ,comptroll] ,g5]al ( !   
,unit$ ,/ates %all conduct a /udy on !  
b>ri]s to m>ketplace entry1 includ+ 9 ! 
lic5s+ process1 & ! access to f9ancial  
s]vices = pot5tial & exi/+ m9ority-own$1
 vet]an-own$1 wom5-own$1 & small        
,/ate-sanction$ m>ijuana bus9esses &    
hemp-relat$ legitimate bus9esses4  7b7  
,report ,n lat] ?an #b ye>s aft] ! date 
( enactm5t ( ?is ,act1 ! ,comptroll]    
,g5]al ( ! ,unit$ ,/ates %all submit to 
,congress a report conta9+-- 7#a7 all   
f9d+s & det]m9ations made 9 conduct+ !  
/udy requir$ "u subsection 7a72 &  7#b7 
any regulatory or legislative           
recomm5dations = remov+ b>ri]s to       
m>ketplace entry & success1 includ+ 9 ! 
lic5s+ process1 & exp&+ access to       
f9ancial s]vices = pot5tial & exi/+     
m9ority-own$1 vet]an-own$1 wom5-own$1 & 
small ,/ate-sanction$ m>ijuana bus9esses

 & hemp-relat$ legitimate bus9esses4    
#ac4 ,,gao /udy on effectiv5ess ( c]ta9 
reports on f9d+ c]ta9 p]sons  7a7 ,9    
g5]al ,n lat] ?an #b ye>s aft] ! date ( 
enactm5t ( ?is ,act1 ! ,comptroll]      
,g5]al ( ! ,unit$ ,/ates1 9 consultation
 ) ! ,attorney ,g5]al1 %all conduct a   
/udy on-- 7#a7 ! 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          
organizations2 &  7#b7 :e!r any         
engagem5t describ$ 9 p>agraph 7#a7 exi/s
 9 a ,/ate1 an ,indian ,tribe1 or a     
political subdivision ( a ,/ate t all[s 
! cultivation1 production1 manufacture1 
sale1 transportation1 display1 disp5s+1 
di/ribution1 or pur*ase ( m>ijuana4  7b7
 ,requirem5ts ,! /udy requir$ "u        
subsection 7a7 %all exam9e reports on   
suspici\s transactions-- 7#a7 relat+ to 
m>ijuana-relat$ bus9esses1 z describ$ 9 
! guidance entitl$ ,,bsa ,expectations  

,reg>d+ ,m>ijuana-,relat$ ,bus9esses1   
publi%$ by ! ,f9ancial ,crimes ,en=cem5t
 ,network ( ! ,dep>tm5t ( ! ,treasury on
 ,febru>y #ad1 #bjad1 dur+ ! p]iod      
beg9n+ on ,janu>y #a1 #bjad1 & end+ on !
 date ( enactm5t ( ?is ,act2 &  7#b7    
relat+ to ,/ate-sanction$ m>ijuana      
bus9esses dur+ ! p]iod beg9n+ on ,janu>y
 #a1 #bjad1 & end+ on ! date t is #a ye>
 aft] ! date ( enactm5t ( ?is ,act4     
#ad4 ,applicability to hemp-relat$      
legitimate bus9esses & hemp-relat$      
s]vice provid]s ,! provisions ( ?is ,act
 7o!r ?an sections #f & #ac7 %all apply 
) respect to hemp-relat$ legitimate     
bus9esses & hemp-relat$ s]vice provid]s 
9 ! same mann] z su* provisions apply ) 
respect to ,/ate-sanction$ m>ijuana     
bus9esses & s]vice provid]s4  #ae4      
,rules ( con/ruction  7a7 ,no requirem5t
 ,to provide f9ancial s]vices ,no?+ 9   
?is ,act %all require a depository      
in/itution1 an entity p]=m+ a f9ancial  
s]vice = or 9 association ) a depository
 in/itution1 a community developm5t     

f9ancial in/itution1 or an insur] to    
provide f9ancial s]vices to a           
,/ate-sanction$ m>ijuana bus9ess1 s]vice
 provid]1 or any o!r bus9ess4  7b7      
,g5]al exam9ation1 sup]visory1 &        
en=cem5t au?ority ,no?+ 9 ?is ,act may  
be con/ru$ 9 any way to limit or o!rwise
 re/rict ! g5]al exam9ation1 sup]visory1
 & en=cem5t au?ority ( ! ,f$]al bank+   
regulators 7includ+ ! ,dep>tm5t ( !     
,treasury71 provid$ t any sup]visory or 
en=cem5t action is n be+ tak5 solely    
because ! provision ( f9ancial s]vices  
to a ,/ate-sanction$ m>ijuana bus9ess or
 s]vice provid]4  7c7 ,bus9ess (        
insurance ,no?+ 9 ?is ,act %all int]f]e 
) ! regulation ( ! bus9ess ( insurance 9
 accordance ) ! ,act entitl$ ,an ,act to
 express ! int5t ( ! ,congress ) ref]5ce
 to ! regulation ( ! bus9ess (          
insurance1 approv$ ,m>* #i1 #aide       
7commonly kn[n z ! ,mc,carran-,f]guson  
,act2 #ae ,u4,s4,c4 #ajaa et seq471 & ! 
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4

 #ecja et seq474  7d7 ,law en=cem5t     
au?ority ,no?+ 9 ?is ,act %all re/rict  
or limit ! ability ( ,f$]al law en=cem5t
 ag5cies to inve/igate & prosecute      
money-laund]+ crimes involv+ proce$s (  
illegal activity o!r ?an m>ijuana-relat$
 activities conduct$ 9 compliance ) !   
law ( ! ,/ate1 ,indian ,tribe1 or       
political subdivision ( a ,/ate by a    
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]4