S 1323
SAFE Banking Act of 2023
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The SAFE Banking Act of 2023 aims to protect banks and financial institutions from penalties for serving businesses involved in the legal marijuana industry. It prevents federal regulators from taking adverse actions against institutions that provide services to these businesses and ensures that proceeds from marijuana-related transactions are not considered proceeds from unlawful activity. The bill also establishes guidelines for reporting suspicious activity and provides specific protections for hemp-related businesses, clarifying their status under federal law.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Angus S., Jr. King
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.