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SAFE Banking Act of 2021
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
99pct
534d open
vs 5,357 other S bills in the 117th — cohort avg 38d
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.
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Filing registrants (90)
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
2024 · fourth_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to Low Income Housing Tax Credit; issues related to brokered deposit regulation.
Client expense: $90,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE
2024 · third_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to Low Income Housing Tax Credit; issues related to brokered deposit regulation.
Client expense: $100,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE
2024 · second_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to short selling of bank securities; issues related to Low Income Housing Tax Credit.
Client expense: $100,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2024 · first_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to short selling of bank securities.
Client expense: $250,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · fourth_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to short selling of bank securities.
Client expense: $110,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
| Democratic |
| NM |
| Bernard Sanders | Independent | VT |
| Bill Cassidy | Republican | LA |
| Brian Schatz | Democratic | HI |
| Catherine Cortez Masto | Democratic | NV |
| Christopher A. Coons | Democratic | DE |
| Christopher Murphy | Democratic | CT |
| Cynthia M. Lummis | Republican | WY |
| Dan Sullivan | Republican | AK |
| Debbie Stabenow | Democratic | MI |
| Dianne Feinstein | Democratic | CA |
| Edward J. Markey | Democratic | MA |
| Elizabeth Warren | Democratic | MA |
| Gary C. Peters | Democratic | MI |
| Jacky Rosen | Democratic | NV |
| John W. Hickenlooper | Democratic | CO |
| Jon Tester | Democratic | MT |
| Kevin Cramer | Republican | ND |
| Kirsten E. Gillibrand | Democratic | NY |
| Kyrsten Sinema | Independent | AZ |
| Lisa Murkowski | Republican | AK |
| Mark Kelly | Democratic | AZ |
| Mark R. Warner | Democratic | VA |
| Martin Heinrich | Democratic | NM |
| Mazie K. Hirono | Democratic | HI |
| Michael F. Bennet | Democratic | CO |
| Patrick J. Leahy | Democratic | VT |
| Patty Murray | Democratic | WA |
| Rand Paul | Republican | KY |
| Richard J. Durbin | Democratic | IL |
| Robert Menendez | Democratic | NJ |
| Ron Wyden | Democratic | OR |
| Roy Blunt | Republican | MO |
| Steve Daines | Republican | MT |
| Susan M. Collins | Republican | ME |
| Tammy Baldwin | Democratic | WI |
| Tammy Duckworth | Democratic | IL |
| Tim Kaine | Democratic | VA |
| Tina Smith | Democratic | MN |
2023 · third_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to short selling of bank securities.
Client expense: $150,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, SENATE
2023 · second_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability; issues related to short selling of bank securities.
Client expense: $60,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2023 · first_quarter · Law Enforcement/Crime/Criminal Justice
Issues relating to cannabis reform legislation and policy, including H.R. 1996, S. 910 - SAFE Banking Act of 2021; H.R. 6130 - MORE Act; S.4591 - Cannabis Administration and Opportunity Act, H.R. 2864, S. 1380 - Clean Slate Act of 2021; restorative justice and expungement-related legislation, and in support of eliminating the Financial Services and General Government appropriations amendment preventing DC from establishing a regulated adult-use cannabis market.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · first_quarter · Bankruptcy
Issues relating to cannabis reform legislation and policy, including H.R. 1996, S. 910 - SAFE Banking Act of 2021; H.R. 6130 - MORE Act; S.4591 - Cannabis Administration and Opportunity Act, H.R. 2864, S. 1380 - Clean Slate Act of 2021; restorative justice and expungement-related legislation, and in support of eliminating the Financial Services and General Government appropriations amendment preventing DC from establishing a regulated adult-use cannabis market.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · first_quarter · Government Issues
Issues relating to cannabis reform legislation and policy, including H.R. 1996, S. 910 - SAFE Banking Act of 2021; H.R. 6130 - MORE Act; S.4591 - Cannabis Administration and Opportunity Act, H.R. 2864, S. 1380 - Clean Slate Act of 2021; restorative justice and expungement-related legislation, and in support of eliminating the Financial Services and General Government appropriations amendment preventing DC from establishing a regulated adult-use cannabis market.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · first_quarter · Banking
Issues related to capital framework for Fannie Mae and Freddie Mac; issues related to digital asset regulation; HR 1996/S. 910/HR 4521, SAFEBanking Act of 2021; issues related to coin circulation; issues related to deposit insurance; issues related to bank prudential standards; issues related to financial system stability.
Client expense: $150,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of, White House Office
2022 · third_quarter · Insurance
Work to keep insurance regulated by the states and not by the Consumer Financial Protection Bureau or set by international bodies. Oppose legislation to repeal the McCarran-Ferguson antitrust exemption for the business of insurance. Advocate for privacy measures in line with GLBA and HIPAA as applied to financial services. Support H.R. 8152 American Data Privacy & Protection Act. Support HFSC Ranking Member Patrick McHenry's Data Privacy Discussion Draft. Oppose legislation to provide retroactive pandemic business interruption insurance. Support legislation of e-signatures, e-disclosures, and e-notarizations, including S. 3715 E-Sign Modernization Act. Support H.R.3962 and S.1625, SECURE Notarization Act of 2021. Support H.R. 4350/S. 2792, NDAA for FY 2022 - includes both SAFE Banking and SECURE Notarization Act. Support increased CDFI and MDI funding in President's FY 2023 Budget Proposal and House Appropriations FSSC bill. Support "Build America Bonds" for infrastructure. Support S.1443 and H.R.2917, Retirement Parity for Student Loans Act of 2021. Support H.R.1996/H.R. 7900/S.910 Secure and Fair Enforcement Banking SAFE Act - This bill generally prohibits a federal regulator from penalizing a financial institution for providing services to a legitimate cannabis-related business. Support H.R.2954 Secure a Strong Retirement Act and S.1770 Retirement Savings and Security to promote the adoption of employer sponsored retirement savings plans and employee participation in such plans. Support S. 4353 RISE & SHINE Act (retirement). Support S4808 SFC Enhancing American Retirement Now (EARN) Act Discussion Draft. Support life insurance tax stabilization provision and 2022 Budget Reconciliation to Build Back Better. Support Expanding Financial Access for Underserved Communities Act.
Client expense: $160,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Financial Institutions/Investments/Securities
Work to keep insurance regulated by the states and not by the Consumer Financial Protection Bureau or set by international bodies. Oppose legislation to repeal the McCarran-Ferguson antitrust exemption for the business of insurance. Advocate for privacy measures in line with GLBA and HIPAA as applied to financial services. Support H.R. 8152 American Data Privacy & Protection Act. Support HFSC Ranking Member Patrick McHenry's Data Privacy Discussion Draft. Oppose legislation to provide retroactive pandemic business interruption insurance. Support legislation of e-signatures, e-disclosures, and e-notarizations, including S. 3715 E-Sign Modernization Act. Support H.R.3962 and S.1625 SECURE Notarization Act of 2021. Support H.R. 4350/H.R. 7900/S. 2792, NDAA for FY 2022 - includes both SAFE Banking and SECURE Notarization Act. Support increased CDFI and MDI funding in President's FY 2023 Budget Proposal and House Appropriations FSSC Bill. Support "Build America Bonds" for infrastructure. Support S.1443 and H.R.2917, Retirement Parity for Student Loans Act of 2021. Support H.R.1996/S.910 Secure and Fair Enforcement Banking SAFE Act - This bill generally prohibits a federal regulator from penalizing a financial institution for providing services to a legitimate cannabis-related business. Support H.R. 2954 Secure a Strong Retirement Act and S. 1770 Retirement Savings and Security to promote the adoption of employer sponsored retirement savings plans and employee participation in such plans. Support S. 4353 RISE & SHINE Act (retirement). Support S. 4808 SFC Enhancing American Retirement Now (EARN) Act Discussion Draft. Support Expanding Financial Access for Underserved Communities Act. Support life insurance tax stabilization provision and 2022 Budget Reconciliation to Build Back Better. Oppose H.R. 8874/S. 4674 Credit Card Competition Act of 2022.
Client expense: $160,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
NCR supported the Secure and Fair Enforcement (SAFE) Banking Act (HR 1996/S.910). Currently, cannabis related businesses do not have access to financial institutions as other domestic industries. The SAFE Banking Act would create a safe harbor for banks to service cannabis industry clients thus enabling cannabis businesses access to checking accounts, lines of credit, and other standard business banking services. Support of SAFE Banking included its inclusion in the National Defense Authorization Act and the end of year omnibus. NCR also was active on the CLIMB Act (H.R. 8200), a bill that provides safe harbors for financial institutions, government programs, and capital markets. NCR discussed this concept with Senate offices but no Senate companion bill was introduced in the 117th Congress. NCR further discussed a SAFE "Plus" with House and Senate leadership, which included language relating to federal grants for state and local cannabis-related expungement programs.
Client expense: Not reported · Firm income: $15,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Budget/Appropriations
NCR supported efforts around the end of year omnibus pertaining to the inclusion of the Secure and Fair Enforcement (SAFE) Banking Act (HR 1996/S.910). NCR further discussed a SAFE "Plus" with House and Senate leadership, which included language relating to federal grants for state and local cannabis-related expungement programs, as it pertained to potential inclusion in the end of year omnibus. Ultimately, no such provisions were included.
Client expense: Not reported · Firm income: $15,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Insurance
Pandemic Risk Insurance (formerly H.R 7011, 116th Congress) and related issues Issues dealing with liability related to COVID-19 Pandemic Issues dealing with corporate governance Plans for international and US capital requirements for financial institutions Tax Treatment of Property and Casualty Insurance and Reinsurance, including proposals for Infrastructure, particularly issues effecting the Base Erosion and Anti-Abuse Tax (BEAT), P.L. 115-97 H.R.1996, S.910 - SAFE Banking Act of 2021 Cybersecurity, cyber insurance and ransomware payments Mitigation and Resiliency H.R. 4521, United States Innovation and Competition Act and Senate Amendment
Client expense: $210,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2022 · third_quarter · Insurance
Pandemic Risk Insurance (formerly H.R 7011, 116th Congress) and related issues Issues dealing with liability related to COVID-19 Pandemic Issues dealing with corporate governance Plans for international and US capital requirements for financial institutions Tax Treatment of Property and Casualty Insurance and Reinsurance, including proposals for Infrastructure, particularly issues effecting the Base Erosion and Anti-Abuse Tax (BEAT), P.L. 115-97 H.R.1996, S.910 - SAFE Banking Act of 2021 Cybersecurity, cyber insurance and ransomware payments Mitigation and Resiliency H.R. 4521, United States Innovation and Competition Act and Senate Amendment
Client expense: $250,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2022 · first_quarter · Insurance
Pandemic Risk Insurance (formerly H.R 7011, 116th Congress) and related issues Issues dealing with liability related to COVID-19 Pandemic Issues dealing with corporate governance Plans for international and US capital requirements for financial institutions Tax Treatment of Property and Casualty Insurance and Reinsurance, including proposals for Infrastructure, particularly issues effecting the Base Erosion and Anti-Abuse Tax (BEAT), P.L. 115-97 H.R.1996, S.910 - SAFE Banking Act of 2021 Cybersecurity, cyber insurance and ransomware payments Mitigation and Resiliency
Client expense: $400,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2022 · fourth_quarter · Law Enforcement/Crime/Criminal Justice
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Law Enforcement/Crime/Criminal Justice
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Banking
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $115,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Law Enforcement/Crime/Criminal Justice
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Banking
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Banking
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Law Enforcement/Crime/Criminal Justice
Issues related to cannabis legislation and policy, including H.R.1996/S. 910 - The SAFE Banking Bill, H.R. 3617 MORE Act, Appropriations, IRS Regulations, taxation and banking policies.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Insurance
National Flood Insurance Reauthorization - extend NFIP program H.R. 8036 - NFIP Extension Act - extend NFIP program H.R. 5689 - Resilient America Act - promote building resiliency President Biden's American Jobs Plan - promote investments in resilient communities, auto safety, and climate change mitigation and resiliency. H.R. 5305 - Extending Government Funding and Delivering Emergency Assistance Act (continuing budget resolution) - extends NFIP Reauthorization through 12/3/21. Bipartisan Infrastructure Investment and Jobs Act (BIF) - building resiliency and auto safety H.R. 8063 - Repair Abuse of MSP Payments Act - prevent private right of action against insurers H.R.3684 - Infrastructure Investment and Jobs Act H.R. 5376 - Inflation Reduction Act of 2022 H.R. 8152 - American Data Privacy and Protection Act H.R. 4521 - America COMPETES Act of 2022 H.R. 1996/S. 910 - Secure and Fair Enforcement Banking Act
Client expense: $9,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Indian/Native American Affairs
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Indian/Native American Affairs
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Indian/Native American Affairs
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
S.A.F.E. Banking Act H.R.1996/S.910, Marijuana CSA Reform, Indian Trader Statute
Client expense: Not reported · Firm income: $27,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Insurance
Issues related to the National Flood Insurance Program; issues related to the Terrorism Risk Insurance Act; issues related to the implementation and reform of the Dodd-Frank Act; trade aspects of credit for reinsurance laws; insurance aspects of cannabis banking legislation (H.R. 1996/S.910); issues related to the surety bond program; issues related to the federal response to the COVID-19 virus, H.R. 5823; and issues related to climate change and the insurance industry.
Client expense: Not reported · Firm income: $110,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, State, Dept of (DOS), Treasury, Dept of
2022 · fourth_quarter · Small Business
Issues related to cannabis policy and services - no specific legislation. H.R. 1996/S. 910 - The SAFE Banking Bill of 2021 - entire bill. Cannabis Administration and Opportunity Act (discussion draft).
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
Issues related to cannabis policy and services - no specific legislation. H.R. 5977, The States Reform Act of 2021 - entire bill. H.R. 1996/S. 910 - The SAFE Banking Bill of 2021 - entire bill. Cannabis Administration and Opportunity Act (discussion draft).
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Financial Institutions/Investments/Securities
Issues related to cannabis policy and services - no specific legislation. H.R. 1996/S. 910 - The SAFE Banking Bill of 2021 - entire bill. Cannabis Administration and Opportunity Act (discussion draft).
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Health Issues
Issues related to cannabis policy and services - no specific legislation. H.R. 1996/S. 910 - The SAFE Banking Bill of 2021 - entire bill. Cannabis Administration and Opportunity Act (discussion draft).
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Law Enforcement/Crime/Criminal Justice
Issues related to cannabis policy and services - no specific legislation. H.R. 1996/S. 910 - The SAFE Banking Bill of 2021 - entire bill. Cannabis Administration and Opportunity Act (discussion draft).
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
While MCUL takes no position on the issue of cannabis legalization, it supports legislation in the 117th Congress that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. MCUL supports the SAFE Banking Act of 2021, S. 910 and H.R. 1996 which would provide a safe harbor for credit unions and other financial institutions. MCUL stands opposed to efforts to change the existing interchange system by expanding requirements under the so-called Durbin Amendment established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. We have been educating our delegation on the importance of the current credit card interchange system with regard to ensuring consumer data remains secure and private and are asking our delegation to oppose S. 4674/H.R. 8874, the Credit Card Competition Act of 2022 because of the harm it would do to credit unions, their members, along with other financial institutions and their customers. We continue to educate our congressional delegation on voluntary overdraft protection services offered by credit unions and the value our members place on these services. MCUL is opposed to legislation (H.R. 4277 and S. 2677) that would severely limit a financial institutions ability to offer these voluntary services to our members. MCUL supports and is calling for passage of H.R. 3962 and S.1625, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is opposed to S. 2508, the Veteran's and Consumer Fair Credit Act that would extend provisions of the Military Lending Act (MLA), which establishes a 36% all-in rate cap on most loans to service members, to all consumer loans. The all-in cap would make it very difficult for credit unions to maintain viable small-dollar programs and severely hinder a state credit union's ability to offer overdraft products.
Client expense: $30,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
Oppose H.R.1996/S.910 SAFE Banking Act of 2021
Client expense: $9,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
Issues pertaining to installment lending and vehicle financing, data security matters, credit reporting issues, industrial loan companies charters, postal banking, debt collection and third party related vendor issues, Consumer Financial Protection Bureau matters, legislation regarding rates on credit lending, provisions in American Rescue Plan Act relating to credit provisions and small business loans, HEROES Act on provisions relating to the PPP loans, H.R.1799 PPP Extension Act regarding processing applications, HR 1996 and S. 910 SAFE Banking Act on provisions related to lawful businesses, Section 1071 of Dodd-Frank Act, FTC safeguards rule
Client expense: $280,000 · Firm income: Not reported
Government targets: Consumer Financial Protection Bureau (CFPB), HOUSE OF REPRESENTATIVES, SENATE, Small Business Administration (SBA), White House Office
2022 · fourth_quarter · Financial Institutions/Investments/Securities
Issues pertaining to installment lending and vehicle financing, data security matters, credit reporting issues, industrial loan companies charters, postal banking, debt collection and third party vendors, Consumer Financial Protection Bureau matters, legislation regarding rates on credit lending, provisions in American Rescue Plan Act relating to credit provisions and small business loans, HEROES Act on provisions relating to the PPP loans, H.R.1799 PPP Extension Act regarding processing applications, HR 1996 and S. 910 SAFE Banking Act on provisions related to lawful businesses, Section 1071 of Dodd-Frank act, Federal Trade Commission safeguards rule, potential legislation limiting credit repair organizations
Client expense: $280,000 · Firm income: Not reported
Government targets: Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · fourth_quarter · Financial Institutions/Investments/Securities
General issues related to the regulation of the securities industry, retirement reform, cybersecurity, privacy, and e-commerce. Specific issues included: the regulation of asset managers and Money Market Funds, including FSOC systemic designation, stress tests and regulation; draft privacy, data security, cybersecurity, and climate proposals, including in the context of SEC proposed rules, and including the American Data Privacy and Protection Act (H.R. 8152), issues related to preemption and functional regulation; the SAFE Banking Act (H.R. 1996 and S. 910), issues impacting the regulation of financial institutions; DOL and SEC e-delivery rules; draft crypto industry proposals and their impact on financial markets; and FTC rulemaking on Hart-Scott-Rodino premerger notifications and their impact on public markets and investors.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Banking
H.R. 1437, Further Continuing Appropriations and Extensions Act, all provisions; H.R. 4373, Further Additional Continuing Appropriations and Extensions Act, 2023, all provisions; H.R. 2627, Consolidated Appropriations Act, all provisions; S. 5189, Close the Shadow Banking Loophole Act, all provisions; H.R. 2954, Securing a Strong Retirement Act of 2022, all provisions; H.R. 1996/ S.910, Safe Banking Act of 2021, all provisions; H.R. 8874/S.4674, Credit Card Competition Act of 2022, all provisions; Crypto currency, general education; ESG general education; SBA program education; CRA modernization general education; cyber security general education.
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Financial Institutions/Investments/Securities
H.R. 1437, Further Continuing Appropriations and Extensions Act, all provisions; H.R. 4373, Further Additional Continuing Appropriations and Extensions Act, 2023, all provisions; H.R. 2627, Consolidated Appropriations Act, all provisions; S. 5189, Close the Shadow Banking Loophole Act, all provisions; H.R. 2954, Securing a Strong Retirement Act of 2022, all provisions; H.R. 1996/ S.910, Safe Banking Act of 2021, all provisions; H.R. 8874/S.4674, Credit Card Competition Act of 2022, all provisions; Crypto currency, general education; ESG general education; SBA program education; CRA modernization general education; cyber security general education.
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE