,,ii  #aai? ,,congress  #b;d ,session   
,s4 #didb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #bd1 #bjbf,mr4   
,m]kley 7= himself1 ,ms4 ,murk[ski1 ,ms4
 ,w>r51 & ,mr4 ,da9es7 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  
,bank+ ,act ( #bjbf or ! ,,safe ,bank+  
,act ( #bjbf4  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 f$]ally back$         
s+le-family mortgage loan4,sec4 #aj4    
,requirem5ts = deposit acc\nt t]m9ation 
reque/s & ord]s4,sec4 #aa4 ,annual      
div]sity & inclusion report4,sec4 #ab4  
,,gao /udy on div]sity & inclusion4,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 ,!
 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 prohibit1 p5alize1 or o!rwise      
disc\rage a depository in/itution f     
provid+ 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 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 ,/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 f$]ally    
back$ 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* f$]ally back$     
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[+3
  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 ,bank+ ,act ( #bjbf1 !        
,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 ,bank+ ,act ( #bjbf1 & !      
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 ( ! ,,safe ,bank+ ,act ( #bjbf4     
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 #ahj days 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$]al bank+           
regulators' hemp bank+ guidance ,n lat] 
?an ! end ( ! #ij-;day p]iod beg9n+ on !
 date ( enactm5t ( ?is ,act1 ea* ,f$]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 f$]ally     
back$ s+le-family mortgage loan  7a7    
,def9ition ,9 ?is section1 ! t]m f$]ally
 back$ 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$1 or    
made by ! ,dep>tm5t ( ,agriculture2 or  
7#f7 pur*as$ or securitiz$ by ! ,f$]al  
,home ,loan ,mortgage ,corporation or ! 
,f$]al ,national ,mortgage ,association4
  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     
f$]ally back$ mortgage loan = a #a- to  
#d-unit prop]ty t is ! pr9cipal resid5ce
 ( ! mortgagor4  7#b7 ,liability ,!     
mortgagee or s]vic] ( a f$]ally back$   
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 ! f$]ally back$        
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\nt t]m9ation 
reque/s & ord]s  7a7 ,conditions =      
t]m9ation  7#a7 ,9 g5]al ,an appropriate
 ,f$]al bank+ ag5cy may n =mally or     
in=mally reque/ or ord] a depository    
in/itution to t]m9ate a specific cu/om] 
acc\nt or gr\p ( cu/om] acc\nts         
7includ+1 b n limit$ to1 any acc\nt (   
any cu/om] t is a ,/ate-sanction$       
m>ijuana bus9ess or s]vice provid]7 or  
to o!rwise re/rict or disc\rage a       
depository in/itution f ent]+ into or   
ma9ta9+ a bank+ relation%ip ) a specific
 cu/om] or gr\p ( cu/om]s 7includ+1 b n 
limit$ to1 ) any cu/om] t is a          
,/ate-sanction$ m>ijuana bus9ess or     
s]vice provid]71 unless-- 7,a7 ! ag5cy  
has made a writt5 det]m9ation t !       
depository in/itution is-- 7i7 engag+ 9 
an unsafe or uns\nd practice2 or  7ii7  
violat+ a rule1 law1 regulation1 or ord]
 ) respect to ! relation%ip ( !         
depository in/itution ) ! cu/om] 7or1 9 

! case ( a gr\p ( cu/om]s1 specific     
cu/om]s )9 ! gr\p72 &  7,b7 su* reason  
is n bas$ prim>ily on reputational risk4
  7#b7 ,treatm5t ( national security    
?reats ,if an appropriate ,f$]al bank+  
ag5cy believes a specific cu/om] or gr\p
 ( cu/om]s is1 or is act+ z a conduit =1
 an entity t-- 7,a7 poses a ?reat to    
national security2  7,b7 is involv$ 9   
t]rori/ f9anc+2  7,c7 is an ag5cy ( !   
,gov]nm5t ( ,iran1 ,nor? ,korea1 ,syria1
 or any c\ntry li/$ f "t to "t on !     
,/ate ,sponsors ( ,t]rorism li/2  7,d7  
is locat$ 91 or is subject to !         
jurisdiction (1 any c\ntry specifi$ 9   
subp>agraph 7,c72 or  7,e7 does bus9ess 
) any entity describ$ 9 subp>agraph 7,c7
 or 7,d71 unless ! appropriate ,f$]al   
bank+ ag5cy det]m9es t ! cu/om] or gr\p 
( cu/om]s has us$ due dilig5ce to avoid 
do+ bus9ess ) any entity describ$ 9     
subp>agraph 7,c7 or 7,d71  su* belief   
%all satisfy ! requirem5t "u p>agraph   
7#a74  7b7 ,notice requirem5t  7#a7 ,9  
g5]al ,if an appropriate ,f$]al bank+   

ag5cy =mally or in=mally reque/s or     
ord]s a depository in/itution to t]m9ate
 a specific cu/om] acc\nt or a gr\p (   
cu/om] acc\nts1 ! ag5cy %all-- 7,a7     
provide su* reque/ or ord] to !         
in/itution 9 writ+2 &  7,b7 accompany   
su* reque/ or ord] ) a writt5           
ju/ification = :y su* t]m9ation is ne$$1
 includ+ any specific laws or           
regulations ! ag5cy believes are be+    
violat$ by ! cu/om] or gr\p ( cu/om]s1  
if any4  7#b7 ,ju/ification requirem5t  
,a ju/ification describ$ "u p>agraph    
7#a77;,b7 may n be bas$ solely on !     
reputational risk to ! depository       
in/itution4  7c7 ,cu/om] notice  7#a7   
,notice requir$ ,except z provid$ "u    
p>agraph 7#b7 or z o!rwise prohibit$ f  
be+ disclos$ by law1 if an appropriate  
,f$]al bank+ ag5cy ord]s a depository   
in/itution to t]m9ate a specific cu/om] 
acc\nt or a gr\p ( cu/om] acc\nts1 !    
depository in/itution %all in=m !       
specific cu/om] or gr\p ( cu/om]s ( !   
ju/ification = ! cu/om]'s acc\nt        

t]m9ation describ$ "u subsection 7b74   
7#b7 ,notice prohibit$  7,a7 ,notice    
prohibit$ 9 cases ( national security   
,if an appropriate ,f$]al bank+ ag5cy   
reque/s or ord]s a depository in/itution
 to t]m9ate a specific cu/om] acc\nt or 
a gr\p ( cu/om] acc\nts bas$ on a belief
 t ! cu/om] or cu/om]s pose a ?reat to  
national security1 or are o!rwise       
describ$ "u subsection 7a77#b71 nei!r ! 
depository in/itution nor ! appropriate 
,f$]al bank+ ag5cy may in=m ! cu/om] or 
cu/om]s ( ! ju/ification = ! cu/om]'s   
acc\nt t]m9ation4  7,b7 ,notice         
prohibit$ 9 o!r cases ,if an appropriate
 ,f$]al bank+ ag5cy det]m9es t ! notice 
requir$ "u p>agraph 7#a7 may int]f]e )  
an au?oriz$ crim9al inve/igation1 nei!r 
! depository in/itution nor !           
appropriate ,f$]al bank+ ag5cy may in=m 
! specific cu/om] or gr\p ( cu/om]s ( ! 
ju/ification = ! cu/om]'s acc\nt        
t]m9ation4  7d7 ,report+ requirem5t ,ea*
 appropriate ,f$]al bank+ ag5cy %all    
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 cu/om] acc\nts t ! ag5cy       
reque/$ t a depository in/itution       
t]m9ate1 or ord]$ 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/ & ord] "u 
p>agraph 7#a7 & ! frequ5cy on :i* !     
ag5cy reli$ on ea* su* au?ority4  7e7   
,def9itions ,9 ?is section3 7#a7        
,appropriate f$]al bank+ ag5cy ,! t]m   
appropriate ,f$]al bank+ ag5cy means--  
7,a7 ! appropriate ,f$]al bank+ ag5cy1 z
 def9$ "u 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$it union4  7#b7 ,depository          
in/itution ,! t]m depository in/itution 
means-- 7,a7 a depository in/itution1 z 
def9$ "u section #c ( ! ,f$]al ,deposit 
,insurance ,act 7#ab ,u4,s4,c4 #ahac72 &

  7,b7 an insur$ cr$it union4  #aa4     
,annual div]sity & inclusion report ,!  
,f$]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$1 & 
small ,/ate-sanction$ 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$1 & 
small ,/ate-sanction$ m>ijuana bus9esses
 & hemp-relat$ legitimate bus9esses4    
#ab4 ,,gao /udy on div]sity & inclusion 
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