US Congress House Bill 4711 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on December 21 2017 - 25% progression, died in committee
Action: 2017-12-21 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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.

Industrial Hemp Banking Act

Rep. Garland Barr [R-KY]

Rep. James Himes [D-CT]

Rep. Jared Polis [D-CO]

Date	Chamber	Action
2017-12-21	House	Referred to the House Committee on Financial Services.
2017-12-21	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/4711/all-info
Text	https://www.congress.gov/115/bills/hr4711/BILLS-115hr4711ih.pdf