1. Short title This Act may be cited as the Industrial Hemp Banking Act . 2. Secure and fair enforcement of the banking laws (a) 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 an industrial hemp legitimate business; (2) prohibit, penalize, or otherwise discourage a depository institution from providing financial services to an industrial hemp legitimate business or to a State or political subdivision of a State that exercises jurisdiction over industrial hemp legitimate businesses; (3) recommend, incentivize, or encourage a depository institution not to offer financial services to an account holder, or to downgrade or cancel the financial services offered to an account holder solely because— (A) the account holder is the owner, operator, or employee of an industrial hemp legitimate business; (B) the account holder later becomes an owner or operator of an industrial hemp legitimate business; or (C) the depository institution was not aware that the account holder is the owner or operator of an industrial hemp legitimate business; and (4) take any adverse or corrective supervisory action on a loan made to an owner or operator of— (A) an industrial hemp legitimate business, solely because the owner or operator owns or operates an industrial hemp legitimate business