I 

114TH CONGRESS 

1ST SESSION H. R. 2076 

To create protections for depository institutions that provide financial services 

to marijuana-related businesses, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 28, 2015 

Mr. PERLMUTTER (for himself, Mr. HECK of Washington, Mr. POLIS, Mr. 

JEFFRIES, Mr. BLUMENAUER, Mr. RANGEL, Ms. DEGETTE, Ms. NORTON, Mr. MCGOVERN, Ms. TITUS, Mr. PETERS, Ms. DELBENE, Ms. 

BROWNLEY of California, Ms. LOFGREN, Mr. COFFMAN, Ms. PINGREE, 

Mr. SHERMAN, and Ms. SINEMA) introduced the following bill; which was 

referred to the Committee on Financial Services, and in addition to the 

Committee on the Judiciary, for a period to be subsequently determined 

by the Speaker, in each case for consideration of such provisions as fall 

within the jurisdiction of the committee concerned 

A BILL 

To create protections for depository institutions that provide 

financial services to marijuana-related businesses, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Marijuana Businesses 

5 Access to Banking Act of 2015’’. 


Emcdonald on DSK67QTVN1PROD with BILLS
2 

•HR 2076 IH

1 SEC. 2. SAFE HARBOR FOR DEPOSITORY INSTITUTIONS. 

2 A Federal banking regulator may not— 

3 (1) terminate or limit the deposit insur4 ance or share insurance of a depository institu5 tion under the Federal Deposit Insurance Act 

6 (12 U.S.C. 1811 et seq.) or the Federal Credit 

7 Union Act (12 U.S.C. 1751 et seq.) solely be8 cause the depository institution provides or has 

9 provided financial services to a marijuana-re10 lated legitimate business; 

11 (2) prohibit, penalize, or otherwise discour12 age a depository institution from providing fi13 nancial services to a marijuana-related legiti14 mate business; 

15 (3) recommend, incentivize, or encourage a 

16 depository institution not to offer financial serv17 ices to an individual, or to downgrade or cancel 

18 the financial services offered to an individual 

19 solely because— 

20 (A) the individual is a manufacturer 

21 or producer, or is the owner or operator of 

22 a marijuana-related legitimate business; 

23 (B) the individual later becomes an 

24 owner or operator of a marijuana-related 

25 legitimate business; or 


Emcdonald on DSK67QTVN1PROD with BILLS
3 

•HR 2076 IH

1 (C) the depository institution was not 

2 aware that the individual is the owner or 

3 operator of a marijuana-related legitimate 

4 business; and 

5 (4) take any adverse or corrective super6 visory action on a loan made to an owner or op7 erator of— 

8 (A) a marijuana-related legitimate 

9 business, solely because the owner or oper10 ator owns or operates a marijuana-related 

11 legitimate business; or 

12 (B) real estate or equipment that is 

13 leased to a marijuana-related legitimate 

14 business, solely because the owner or oper15 ator of the real estate or equipment leased 

16 the equipment or real estate to a mari17 juana-related legitimate business. 

18 SEC. 3. PROTECTIONS UNDER FEDERAL LAW. 

19 (a) IN GENERAL.—In a State or political subdivision 

20 of a State that allows the cultivation, production, manu21 facture, sale, transportation, display, dispensing, distribu22 tion, or purchase of marijuana pursuant to a law or regu23 lation of such State or political subdivision, a depository 

24 institution that provides financial services to a marijuana25 related legitimate business, and the officers, directors, and 


Emcdonald on DSK67QTVN1PROD with BILLS
4 

•HR 2076 IH

1 employees of that depository institution may not be held 

2 liable pursuant to any Federal law or regulation— 

3 (1) solely for providing such financial services 

4 pursuant to the law or regulation of such State or 

5 political subdivision; or 

6 (2) for further investing any income derived 

7 from such financial services. 

8 (b) FORFEITURE.—A depository institution that has 

9 a legal interest in the collateral for a loan made to an 

10 owner or operator of a marijuana-related legitimate busi11 ness, or to an owner or operator of real estate or equip12 ment that is leased to a marijuana-related legitimate busi13 ness, shall not be subject to criminal, civil, or administra14 tive forfeiture of that legal interest pursuant to any Fed15 eral law for providing such loan. 

16 SEC. 4. RULE OF CONSTRUCTION. 

17 Nothing in this Act shall require a depository institu18 tion to provide financial services to a marijuana-related 

19 legitimate business. 

20 SEC. 5. REQUIREMENTS FOR FILING SUSPICIOUS ACTIVITY 

21 REPORTS. 

22 Section 5318(g) of title 31, United States Code, is 

23 amended by adding at the end the following: 

24 ‘‘(5) REQUIREMENTS FOR MARIJUANA-RELATED

25 BUSINESSES.— 


Emcdonald on DSK67QTVN1PROD with BILLS
5 

•HR 2076 IH

1 ‘‘(A) IN GENERAL.—If a financial institu2 tion or any director, officer, employee, or agent 

3 of a financial institution reports a suspicious 

4 transaction pursuant to this subsection, and the 

5 reason for the report relates to a marijuana-re6 lated business, the Secretary shall require that 

7 such report complies with the requirements of 

8 the guidance issued by the Financial Crimes 

9 Enforcement Network titled ‘BSA Expectations 

10 Regarding Marijuana-Related Businesses’ 

11 (FIN–2014–G001; published on February 14, 

12 2014). The Secretary may issue additional reg13 ulations or guidance as necessary to ensure that 

14 reports of suspicious transactions do not inhibit 

15 the provision of financial services to marijuana16 related legitimate businesses in a State or polit17 ical subdivision of a State that has allowed the 

18 cultivation, production, manufacture, sale, 

19 transportation, display, dispensing, distribution, 

20 or purchase of marijuana pursuant to law or 

21 regulation of such State or political subdivision. 

22 ‘‘(B) DEFINITION.—In this paragraph, the 

23 term ‘marijuana-related legitimate business’ has 

24 the meaning given such term in the Marijuana 

25 Businesses Access to Banking Act of 2015.’’. 


Emcdonald on DSK67QTVN1PROD with BILLS
6 

•HR 2076 IH

1 SEC. 6. DEFINITIONS. 

2 In this Act: 

3 (1) DEPOSITORY INSTITUTION.—The term ‘‘de4 pository institution’’ means— 

5 (A) a depository institution as defined in 

6 section 3(c) of the Federal Deposit Insurance 

7 Act (12 U.S.C. 1813(c)); 

8 (B) a Federal credit union as defined in 

9 section 101 of the Federal Credit Union Act 

10 (12 U.S.C. 1752); or 

11 (C) a State credit union as defined in sec12 tion 101 of the Federal Credit Union Act (12 

13 U.S.C. 1752). 

14 (2) FEDERAL BANKING REGULATOR.—The 

15 term ‘‘Federal banking regulator’’ means each of the 

16 Board of Governors of the Federal Reserve System, 

17 the Bureau of Consumer Financial Protection, the 

18 Federal Deposit Insurance Corporation, the Office of 

19 the Comptroller of the Currency, the National Credit 

20 Union Administration, or any Federal agency or de21 partment that regulates banking or financial serv22 ices, as determined by the Secretary of the Treas23 ury. 

24 (3) FINANCIAL SERVICE.—The term ‘‘financial 

25 service’’ means a financial product or service as de26 fined in section 1002 of the Dodd-Frank Wall Street 


Emcdonald on DSK67QTVN1PROD with BILLS
7 

•HR 2076 IH

1 Reform and Consumer Protection Act (12 U.S.C. 

2 5481). 

3 (4) MANUFACTURER.—The term ‘‘manufac4 turer’’ means a person who manufactures, com5 pounds, converts, processes, prepares, or packages 

6 marijuana or marijuana products. 

7 (5) MARIJUANA-RELATED LEGITIMATE BUSI8 NESS.—The term ‘‘marijuana-related legitimate 

9 business’’ means a manufacturer, producer, or any 

10 person that— 

11 (A) participates in any business or orga12 nized activity that involves handling marijuana 

13 or marijuana products, including cultivating, 

14 producing, manufacturing, selling, transporting, 

15 displaying, dispensing, distributing, or pur16 chasing marijuana or marijuana products; and 

17 (B) engages in such activity pursuant to a 

18 law or regulation of by a State or a political 

19 subdivision of a State. 

20 (6) MARIJUANA.—The term ‘‘marijuana’’ has 

21 the meaning given the term ‘‘marihuana’’ in section 

22 102 of the Controlled Substances Act (21 U.S.C. 

23 802). 

24 (7) MARIJUANA PRODUCT.—The term ‘‘mari25 juana product’’ means any article which contains 


Emcdonald on DSK67QTVN1PROD with BILLS
8 

•HR 2076 IH

1 marijuana, including an article which is a con2 centrate, an edible, a tincture, a marijuana-infused 

3 product, or a topical. 

4 (8) PRODUCER.—The term ‘‘producer’’ means a 

5 person who plants, cultivates, harvests, or in any 

6 way facilitates the natural growth of marijuana. 

7 (9) STATE.—The term ‘‘State’’ means each of 

8 the several States, the District of Columbia, Puerto 

9 Rico, and any territory or possession of the United 

10 States. 

Æ 


Emcdonald on DSK67QTVN1PROD with BILLS