1077 
territory or possession of the United 
States.’’. 
(g) GUIDANCE AND EXAMINATION PROCEDURES.— 
Not later than 180 days after the date of enactment of 
this Act, the Financial Institutions Examination Council 
shall develop uniform guidance and examination proce-
dures for depository institutions that provide financial 
services to cannabis-related legitimate businesses and 
service providers. 
(h) ANNUAL DIVERSITY AND INCLUSION REPORT.— 
The Federal banking regulators shall issue an annual re-
port to Congress containing— 
(1) information and data on the availability of 
access to financial services for minority-owned and 
women-owned cannabis-related legitimate businesses; 
and 
(2) any regulatory or legislative recommenda-
tions for expanding access to financial services for 
minority-owned and women-owned cannabis-related 
legitimate businesses. 
(i) GAO STUDY ON DIVERSITY AND INCLUSION.— 
(1) STUDY.—The Comptroller General of the 
United States shall carry out a study on the barriers 
to marketplace entry, including in the licensing proc-
ess, and the access to financial services for potential 
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and existing minority-owned and women-owned can-
nabis-related legitimate businesses. 
(2) REPORT.—The Comptroller General shall 
issue a report to the Congress— 
(A) containing all findings and determina-
tions made in carrying out the study required 
under paragraph (1); and 
(B) containing any regulatory or legislative 
recommendations for removing barriers to mar-
ketplace entry, including in the licensing proc-
ess, and expanding access to financial services 
for potential and existing minority-owned and 
women-owned cannabis-related legitimate busi-
nesses. 
(j) GAO STUDY ON EFFECTIVENESS OF CERTAIN 
REPORTS ON FINDING CERTAIN PERSONS.—Not later 
than 2 years after the date of the enactment of this Act, 
the Comptroller General of the United States shall carry 
out a study on the effectiveness of reports on suspicious 
transactions filed pursuant to section 5318(g) of title 31, 
United States Code, at finding individuals or organiza-
tions suspected or known to be engaged with transnational 
criminal organizations and whether any such engagement 
exists in a State, political subdivision, or Indian Tribe that 
has jurisdiction over Indian country that allows the cul-
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tivation, production, manufacture, sale, transportation, 
display, dispensing, distribution, or purchase of cannabis. 
The study shall examine reports on suspicious trans-
actions as follows: 
(1) During the period of 2014 until the date of 
the enactment of this Act, reports relating to mari-
juana-related businesses. 
(2) During the 1-year period after date of the 
enactment of this Act, reports relating to cannabis- 
related legitimate businesses. 
(k) BANKING SERVICES FOR HEMP BUSINESSES.— 
(1) FINDINGS.—The Congress finds that— 
(A) the Agriculture Improvement Act of 
2018 (Public Law 115–334) legalized hemp by 
removing it from the definition of ‘‘marihuana’’ 
under the Controlled Substances Act; 
(B) despite the legalization of hemp, some 
hemp businesses (including producers, manufac-
turers, and retailers) continue to have difficulty 
gaining access to banking products and serv-
ices; and 
(C) businesses involved in the sale of 
hemp-derived cannabidiol (‘‘CBD’’) products 
are particularly affected, due to confusion about 
their legal status. 
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1080 
(2) FEDERAL
BANKING
REGULATOR
HEMP 
BANKING GUIDANCE.—Not later than the end of the 
90-day period beginning on the date of enactment of 
this Act, the Federal banking regulators shall jointly 
issue guidance to financial institutions— 
(A) confirming the legality of hemp, hemp- 
derived CBD products, and other hemp-derived 
cannabinoid products, and the legality of engag-
ing in financial services with businesses selling 
hemp, hemp-derived CBD products, and other 
hemp-derived cannabinoid products, after the 
enactment of the Agriculture Improvement Act 
of 2018; and 
(B) to provide recommended best practices 
for financial institutions to follow when pro-
viding financial services and merchant proc-
essing services to businesses involved in the sale 
of hemp, hemp-derived CBD products, and 
other hemp-derived cannabinoid products. 
(3) FINANCIAL INSTITUTION DEFINED.—In this 
section, the term ‘‘financial institution’’ means any 
person providing financial services. 
(l) APPLICATION OF SAFE HARBORS TO HEMP AND 
CBD PRODUCTS.— 
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(1) IN GENERAL.—Except as provided under 
paragraph (2), the provisions of this section (other 
than subsections (f) and (j)) shall apply to hemp (in-
cluding hemp-derived cannabidiol and other hemp- 
derived cannabinoid products) in the same manner 
as such provisions apply to cannabis. 
(2) RULE OF APPLICATION.—In applying the 
provisions of this section described under paragraph 
(1) to hemp, the definition of ‘‘cannabis-related le-
gitimate business’’ shall be treated as excluding any 
requirement to engage in activity pursuant to the 
law of a State or political subdivision thereof. 
(3) HEMP DEFINED.—In this subsection, the 
term ‘‘hemp’’ has the meaning given that term 
under section 297A of the Agricultural Marketing 
Act of 1946 (7 U.S.C. 1639o). 
(m) REQUIREMENTS FOR DEPOSIT ACCOUNT TERMI-
NATION REQUESTS AND ORDERS.— 
(1) TERMINATION REQUESTS OR ORDERS MUST 
BE VALID.— 
(A) IN GENERAL.—An appropriate Federal 
banking agency may not formally or informally 
request or order a depository institution to ter-
minate a specific customer account or group of 
customer accounts or to otherwise restrict or 
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