text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Marijuana Businesses Access to 
  Banking Act of 2015''.
  
  SEC. 2. SAFE HARBOR FOR DEPOSITORY INSTITUTIONS.
  
      A Federal banking regulator may not--
                      (1) terminate or limit the deposit insurance or 
                  share insurance of a depository institution under the 
                  Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) 
                  or the Federal Credit Union Act (12 U.S.C. 1751 et 
                  seq.) solely because the depository institution 
                  provides or has provided financial services to a 
                  marijuana-related legitimate business;
                      (2) prohibit, penalize, or otherwise discourage a 
                  depository institution from providing financial 
                  services to a marijuana-related legitimate business;
                      (3) recommend, incentivize, or encourage a 
                  depository institution not to offer financial services 
                  to an individual, or to downgrade or cancel the 
                  financial services offered to an individual solely 
                  because--
                              (A) the individual is a manufacturer or 
                          producer, or is the owner or operator of a 
                          marijuana-related legitimate business;
                              (B) the individual later becomes an owner 
                          or operator of a marijuana-related legitimate 
                          business; or
                              (C) the depository institution was not 
                          aware that the individual is the owner or 
                          operator of a marijuana-related legitimate 
                          business; and
                      (4) take any adverse or corrective supervisory 
                  action on a loan made to an owner or operator of--
                              (A) a marijuana-related legitimate 
                          business, solely because the owner or operator 
                          owns or operates a marijuana-related legitimate 
                          business; or
                              (B) real estate or equipment that is leased 
                          to a marijuana-related legitimate business, 
                          solely because the owner or operator of the 
                          real estate or equipment leased the equipment 
                          or real estate to a marijuana-related 
                          legitimate business.
  
  SEC. 3. PROTECTIONS UNDER FEDERAL LAW.
  
      (a) In General.--In a State or political subdivision of a State 
  that allows the cultivation, production, manufacture, sale, 
  transportation, display, dispensing, distribution, or purchase of 
  marijuana pursuant to a law or regulation of such State or political 
  subdivision, a depository institution that provides financial services 
  to a marijuana-related legitimate business, and the officers, 
  directors, and employees of that depository institution may not be held 
  liable pursuant to any Federal law or regulation--
              (1) solely for providing such financial services pursuant 
          to the law or regulation of such State or political 
          subdivision; or
              (2) for further investing any income derived from such 
          financial services.
      (b) Forfeiture.--A depository institution that has a legal interest 
  in the collateral for a loan made to an owner or operator of a 
  marijuana-related legitimate business, or to an owner or operator of 
  real estate or equipment that is leased to a marijuana-related 
  legitimate business, shall not be subject to criminal, civil, or 
  administrative forfeiture of that legal interest pursuant to any 
  Federal law for providing such loan.
  
  SEC. 4. RULE OF CONSTRUCTION.
  
      Nothing in this Act shall require a depository institution to 
  provide financial services to a marijuana-related legitimate business.
  
  SEC. 5. REQUIREMENTS FOR FILING SUSPICIOUS ACTIVITY REPORTS.
  
      Section 5318(g) of title 31, United States Code, is amended by 
  adding at the end the following:
              ``(5) Requirements for marijuana-related businesses.--
                      ``(A) In general.--If a financial institution or 
                  any director, officer, employee, or agent of a 
                  financial institution reports a suspicious transaction 
                  pursuant to this subsection, and the reason for the 
                  report relates to a marijuana-related business, the 
                  Secretary shall require that such report complies with 
                  the requirements of the guidance issued by the 
                  Financial Crimes Enforcement Network titled `BSA 
                  Expectations Regarding Marijuana-Related Businesses' 
                  (FIN-2014-G001; published on February 14, 2014). The 
                  Secretary may issue additional regulations or guidance 
                  as necessary to ensure that reports of suspicious 
                  transactions do not inhibit the provision of financial 
                  services to marijuana-related legitimate businesses in 
                  a State or political subdivision of a State that has 
                  allowed the cultivation, production, manufacture, sale, 
                  transportation, display, dispensing, distribution, or 
                  purchase of marijuana pursuant to law or regulation of 
                  such State or political subdivision.
                      ``(B) Definition.--In this paragraph, the term 
                  `marijuana-related legitimate business' has the meaning 
                  given such term in the Marijuana Businesses Access to 
                  Banking Act of 2015.''.
  
  SEC. 6. DEFINITIONS.
  
      In this Act:
              (1) Depository institution.--The term ``depository 
          institution'' means--
                      (A) a depository institution as defined in section 
                  3(c) of the Federal Deposit Insurance Act (12 U.S.C. 
                  1813(c));
                      (B) a Federal credit union as defined in section 
                  101 of the Federal Credit Union Act (12 U.S.C. 1752); 
                  or
                      (C) a State credit union as defined in section 101 
                  of the Federal Credit Union Act (12 U.S.C. 1752).
              (2) Federal banking regulator.--The term ``Federal banking 
          regulator'' means each of the Board of Governors of the Federal 
          Reserve System, the Bureau of Consumer Financial Protection, 
          the Federal Deposit Insurance Corporation, the Office of the 
          Comptroller of the Currency, the National Credit Union 
          Administration, or any Federal agency or department that 
          regulates banking or financial services, as determined by the 
          Secretary of the Treasury.
              (3) Financial service.--The term ``financial service'' 
          means a financial product or service as defined in section 1002 
          of the Dodd-Frank Wall Street Reform and Consumer Protection 
          Act (12 U.S.C. 5481).
              (4) Manufacturer.--The term ``manufacturer'' means a person 
          who manufactures, compounds, converts, processes, prepares, or 
          packages marijuana or marijuana products.
              (5) Marijuana-related legitimate business.--The term 
          ``marijuana-related legitimate business'' means a manufacturer, 
          producer, or any person that--
                      (A) participates in any business or organized 
                  activity that involves handling marijuana or marijuana 
                  products, including cultivating, producing, 
                  manufacturing, selling, transporting, displaying, 
                  dispensing, distributing, or purchasing marijuana or 
                  marijuana products; and
                      (B) engages in such activity pursuant to a law or 
                  regulation of by a State or a political subdivision of 
                  a State.
              (6) Marijuana.--The term ``marijuana'' has the meaning 
          given the term ``marihuana'' in section 102 of the Controlled 
          Substances Act (21 U.S.C. 802).
              (7) Marijuana product.--The term ``marijuana product'' 
          means any article which contains marijuana, including an 
          article which is a concentrate, an edible, a tincture, a 
          marijuana-infused product, or a topical.
              (8) Producer.--The term ``producer'' means a person who 
          plants, cultivates, harvests, or in any way facilitates the 
          natural growth of marijuana.
              (9) State.--The term ``State'' means each of the several 
          States, the District of Columbia, Puerto Rico, and any 
          territory or possession of the United States.
target: Marijuana Businesses Access to Banking Act of 2015 This bill provides a safe harbor for depository institutions providing financial services to a marijuana-related legitimate business insofar as it prohibits a federal banking regulator from: (1) terminating or limiting the deposit or share insurance of a depository institution solely because it provides financial services to a marijuana-related legitimate business; or (2) prohibiting, penalizing, or otherwise discouraging a depository institution from offering such services. A federal banking regulator may neither recommend, motivate, provide incentives, nor encourage a depository institution to refuse to offer financial services to an individual, nor downgrade or cancel financial services offered to an individual, solely because the individual: (1) is a manufacturer, producer, owner or operator of a marijuana-related legitimate business; or (2) the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business.   A federal banking regulator may not take any adverse or corrective supervisory action, solely because of the business involved, on a loan made to an owner or operator of: (1) a marijuana-related legitimate business, or (2) real estate or equipment that is leased to a marijuana-related legitimate business. Immunity from federal criminal prosecution or investigation is granted, subject to certain conditions, to a depository institution that provides financial services to a marijuana-related legitimate business in a state or one of its political subdivisions that allows the cultivation, production, manufacture, sale, transportation, display, dispensing, distribution, or purchase of marijuana. Neither the depository institution nor its officers, directors, nor employees may be held liable under federal law or regulation solely for providing such financial services or further investing income derived from those services. The Department of the Treasury must require any suspicious activity report filed by a financial institution regarding a marijuana-based business to comply with specified guidance of the Financial Crimes Enforcement Network.
feat_title: Marijuana Businesses Access to Banking Act of 2015