H.R. 2891 118th Congress House

SAFE Banking Act of 2023

Official title: To create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes.

Introduced: June 12, 2023 Introduced by: David P. Joyce Republican · Ohio See on congress.gov

Finance and Financial Sector Administrative law and regulatory proceduresAsiaBank accounts, deposits, capitalBanking and financial institutions regulation

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Business recordsCongressional oversightConsumer affairsCredit and credit marketsCriminal investigation, prosecution, interrogationDepartment of the TreasuryDrug trafficking and controlled substancesDrug, alcohol, tobacco useEvidence and witnessesFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemFinancial services and investmentsFraud offenses and financial crimesGovernment information and archivesGovernment liabilityGovernment studies and investigationsInsurance industry and regulationIranJudicial procedure and administrationLicensing and registrationsMiddle EastMinority and disadvantaged businessesNational Credit Union AdministrationNorth KoreaOrganized crimeSyriaTerrorismWomen in business

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 3, 2023

Referred to the Subcommittee on Economic Opportunity.

Apr 26, 2023

Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Veterans' Affairs, 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.

Apr 26, 2023

Introduced in House

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Latest action May 3, 2023

Referred to the Subcommittee on Economic Opportunity.

Plain-English summary Congressional Research Service

Secure and Fair Enforcement Banking Act of 2023 or the SAFE Banking Act of 2023

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 also prohibits a federal banking regulator from requesting or ordering a depository institution to terminate a customer account unless (1) the regulator has determined that the depository institution is engaging in an unsafe or unsound practice or is violating a law or regulation, and (2) that determination is not based primarily on reputation risk.

Additionally, proceeds from a transaction involving activities of a state-sanctioned marijuana business are no longer considered proceeds from unlawful activity. (Financial institutions that handle proceeds from unlawful activity are subject to anti-money laundering laws. Violators of these laws are subject to fines and imprisonment.)

Furthermore, a financial institution, insurer, or federal agency may not be held liable or subject to asset forfeiture under federal law for providing a loan, mortgage, or other financial service to a state-sanctioned marijuana business.

Related & companion bills 2

Bill text 1 version

Introduced in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 4

Economic Opportunity Subcommittee
House of Representatives · subcommittee of Veterans' Affairs Committee
Financial Services Committee
House of Representatives
Judiciary Committee
House of Representatives
Veterans' Affairs Committee
House of Representatives

Lobbying activity 11

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

INSURED RETIREMENT INSTITUTE
for INSURED RETIREMENT INSTITUTE · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
INSURED RETIREMENT INSTITUTE
for INSURED RETIREMENT INSTITUTE · District of Columbia · 2nd Quarter 2026 (Apr 1 - June 30)
INSURED RETIREMENT INSTITUTE
for INSURED RETIREMENT INSTITUTE · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)
WHITMER & WORRALL, LLC
for AMERICAN TRANSACTION PROCESSORS COALITION · Georgia · 4th Quarter 2025 (Oct 1 - Dec 31)
INSURED RETIREMENT INSTITUTE
for INSURED RETIREMENT INSTITUTE · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
WHITMER & WORRALL, LLC
for AMERICAN TRANSACTION PROCESSORS COALITION · Georgia · 3rd Quarter 2025 (July 1 - Sep 30)

Bodies those filers lobbied

HOUSE OF REPRESENTATIVES
11 filings
SENATE
11 filings
Internal Revenue Service (IRS)
7 filings
Labor, Dept of (DOL)
7 filings
Securities & Exchange Commission (SEC)
7 filings
Treasury, Dept of
7 filings

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 11 filings →

Cosponsors 130

Bera, Ami

California · Oct 1, 2024

McCollum, Betty

Minnesota · Sep 6, 2024

Evans, Dwight

Pennsylvania · Aug 2, 2024

Malliotakis, Nicole

New York · Jul 11, 2024

Lieu, Ted

California · Jul 2, 2024

Ramirez, Delia C.

Illinois · Jul 2, 2024

Stevens, Haley M.

Michigan · Jul 2, 2024

Watson Coleman, Bonnie

New Jersey · Jun 4, 2024

Goldman, Daniel S.

New York · May 31, 2024

Dingell, Debbie

Michigan · May 23, 2024

Larsen, Rick

Washington · May 23, 2024

García, Jesús G. "Chuy"

Illinois · May 21, 2024

Deluzio, Christopher R.

Pennsylvania · May 15, 2024

Garamendi, John

California · May 6, 2024

Vasquez, Gabe

New Mexico · May 1, 2024

Hayes, Jahana

Connecticut · Apr 20, 2024

Obernolte, Jay

California · Apr 18, 2024

Ross, Deborah K.

North Carolina · Apr 9, 2024

Frankel, Lois

Florida · Apr 5, 2024

Carter, Troy A.

Louisiana · Mar 29, 2024

Kuster, Ann

· Mar 29, 2024

Schakowsky, Janice D.

Illinois · Mar 29, 2024

Pennsylvania · Mar 19, 2024

Moore, Gwen

Wisconsin · Mar 19, 2024

Illinois · Feb 6, 2024

Morelle, Joseph D.

New York · Feb 6, 2024

Leger Fernandez, Teresa

New Mexico · Feb 5, 2024

Van Orden, Derrick

Wisconsin · Jan 25, 2024

Timmons, William R.

South Carolina · Dec 14, 2023

Horsford, Steven

Nevada · Nov 30, 2023

Miller, Max L.

Ohio · Nov 29, 2023

Thanedar, Shri

Michigan · Nov 28, 2023

Sherrill, Mikie

New Jersey · Nov 6, 2023

Balint, Becca

Vermont · Oct 24, 2023

Blunt Rochester, Lisa

Delaware · Oct 24, 2023

Crow, Jason

Colorado · Oct 24, 2023

Harder, Josh

California · Oct 24, 2023

Kildee, Daniel

· Oct 24, 2023

Schrier, Kim

Washington · Oct 24, 2023

DelBene, Suzan K.

Washington · Oct 18, 2023

Salinas, Andrea

Oregon · Oct 17, 2023

Pettersen, Brittany

Colorado · Oct 12, 2023

Nickel, Wiley

· Oct 11, 2023

McClellan, Jennifer L.

Virginia · Oct 6, 2023

Mrvan, Frank J.

Indiana · Oct 6, 2023

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APA

U.S. Congress. (2026). H.R. 2891: SAFE Banking Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-2891/

MLA

"H.R. 2891: SAFE Banking Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-2891/.

Bluebook (legal)

H.R. 2891, 118th Cong. (2026), https://openamerica.io/bill/118-HR-2891/.

Markdown link

[H.R. 2891: SAFE Banking Act of 2023](https://openamerica.io/bill/118-HR-2891/)