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115-hr-4711115th Congress

Industrial Hemp Banking Act

Sponsored By: Representative Barr, Andy [R-KY-6]

Unknown

Summary

Industrial Hemp Banking Act This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate industrial hemp business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; or (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased to such a business. As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing financial services to a legitimate industrial hemp business.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Barr, Andy [R-KY-6]

KY • R

Cosponsors

  • Rep. Himes, James A. [D-CT-4]

    CT • D

    Sponsored 12/21/2017

  • Rep. Polis, Jared [D-CO-2]

    CO • D

    Sponsored 12/21/2017

Roll Call Votes

No roll call votes available for this bill.

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