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H.R. 1996 117th Congress House

Secure And Fair Enforcement Banking Act of 2021

Official title: To create protections for financial institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses, and for other purposes.

Introduced: March 18, 2021 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresAsiaBank accounts, deposits, capitalBanking and financial institutions regulation
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 10 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2021
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 19, 2021
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 101 (Roll no. 120). (text: CR H1915-1918)
Apr 19, 2021
Motion to reconsider laid on the table Agreed to without objection.
Apr 19, 2021
Considered as unfinished business. (consideration: CR H1942-1943)
Apr 19, 2021
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Apr 19, 2021
DEBATE - The House proceeded with forty minutes of debate on H.R. 1996.
Apr 19, 2021
Considered under suspension of the rules. (consideration: CR H1915-1924)
Apr 19, 2021
Mr. Perlmutter moved to suspend the rules and pass the bill, as amended.
Mar 18, 2021
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.
Mar 18, 2021
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Apr 19, 2021 House · vote #120 On Motion to Suspend the Rules and Pass, as Amended Passed 321–101 See who voted →
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 Latest action April 20, 2021

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Secure and Fair Enforcement Banking Act of 2021 or the SAFE Banking Act of 2021

This bill generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business. Prohibited penalties include terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate cannabis-related business and prohibiting or otherwise discouraging a depository institution from offering financial services to such a business.

Additionally, proceeds from a transaction involving activities of a legitimate cannabis-related business are not considered proceeds from unlawful activity. Proceeds from unlawful activity are subject to anti-money laundering laws.

Furthermore, a depository institution is not, under federal law, liable or subject to asset forfeiture for providing a loan or other financial services to a legitimate cannabis-related business.

The bill also provides that a federal banking agency may not request or order a depository institution to terminate a customer account unless (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk. Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.

Finally, the bill decreases the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

 Related & companion bills 1
  • S 910 SAFE Banking Act of 2021
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Lobbying activity 10

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 10 filings →
 Cosponsors 178
All 178 Democratic 102 Republican 16
R
Bice, Stephanie I.
Oklahoma · Apr 19, 2021
 D
Castro, Joaquin
Texas · Apr 19, 2021
 R
Comer, James
Kentucky · Apr 19, 2021
 D
Davids, Sharice
Kansas · Apr 19, 2021
 D
Gomez, Jimmy
California · Apr 19, 2021
 D
Lofgren, Zoe
California · Apr 19, 2021
 D
Meng, Grace
New York · Apr 19, 2021
 R
Miller-Meeks, Mariannette
Iowa · Apr 19, 2021
 D
Mrvan, Frank J.
Indiana · Apr 19, 2021
 D
Ross, Deborah K.
North Carolina · Apr 19, 2021
RUSH, BOBBY
· Apr 19, 2021
 D
Torres, Norma J.
California · Apr 19, 2021
Bowman, Jamaal
· Apr 16, 2021
Bush, Cori
· Apr 16, 2021
Bustos, Cheri
· Apr 16, 2021
 D
Costa, Jim
California · Apr 16, 2021
 D
Davis, Danny K.
Illinois · Apr 16, 2021
Delgado, Antonio
· Apr 16, 2021
Eshoo, Anna
· Apr 16, 2021
 D
Green, Al
Texas · Apr 16, 2021
 D
Larsen, Rick
Washington · Apr 16, 2021
 D
Lee, Susie
Nevada · Apr 16, 2021
 D
Leger Fernandez, Teresa
New Mexico · Apr 16, 2021
Newman, Marie
· Apr 16, 2021
 D
Pingree, Chellie
Maine · Apr 16, 2021
Porter, Katie
· Apr 16, 2021
ROYBAL-ALLARD, LUCILLE
· Apr 16, 2021
 R
Timmons, William R.
South Carolina · Apr 16, 2021
Trone, David
· Apr 16, 2021
 D
Adams, Alma S.
North Carolina · Apr 14, 2021
 R
Emmer, Tom
Minnesota · Apr 14, 2021
 D
Larson, John B.
Connecticut · Apr 14, 2021
Meijer, Peter
· Apr 14, 2021
 D
Aguilar, Pete
California · Apr 8, 2021
 D
Castor, Kathy
Florida · Apr 8, 2021
 D
Connolly, Gerald E.
Virginia · Apr 8, 2021
 D
DeLauro, Rosa L.
Connecticut · Apr 8, 2021
McNerney, Jerry
· Apr 8, 2021
 D
Pappas, Chris
New Hampshire · Apr 8, 2021
 D
Pocan, Mark
Wisconsin · Apr 8, 2021
 R
Bacon, Don
Nebraska · Apr 5, 2021
 D
Barragán, Nanette Diaz
California · Apr 5, 2021
Brown, Anthony
· Apr 5, 2021
 D
Chu, Judy
California · Apr 5, 2021
COOPER, JAMES
· Apr 5, 2021
 D
Johnson, Henry C. "Hank"
Georgia · Apr 5, 2021
Kahele, Kaiali'i
· Apr 5, 2021
 D
Kelly, Robin L.
Illinois · Apr 5, 2021
RYAN, TIM
· Apr 5, 2021
 D
Sánchez, Linda T.
California · Apr 5, 2021
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Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1996: Secure And Fair Enforcement Banking Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-1996/
MLA
"H.R. 1996: Secure And Fair Enforcement Banking Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-1996/.
Bluebook (legal)
H.R. 1996, 117th Cong. (2026), https://openamerica.io/bill/117-HR-1996/.
Markdown link
[H.R. 1996: Secure And Fair Enforcement Banking Act of 2021](https://openamerica.io/bill/117-HR-1996/)
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