Pipeline · Bill → Law
Step 1
Introduced
Apr 26, 2023
Step 2
Referred
Apr 26, 2023
Banking, Housing, and Urban Affairs
Step 3
Committee
May 11, 2023
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill provides protections for federally regulated financial institutions that serve state-sanctioned marijuana businesses. Currently, many financial institutions do not provide services to state-sanctioned marijuana businesses due to the federal classification of marijuana as a Schedule I controlled substance. Under the bill, a federal banking regulator may not penalize a depository institution for providing banking services to a state-sanctioned marijuana business. For example, regulators may not terminate or limit the deposit or share insurance of a depository institution solely because the institution provides financial services to a state-sanctioned marijuana business. The bill al...
Timeline · 3 actions
May 11, 2023
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Apr 26, 2023
Introduced in Senate
Apr 26, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.