1. Short title This Act may be cited as the Secure And Fair Enforcement Banking Act of 2017 or the SAFE Act of 2017 . 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 cannabis-related legitimate business; (2) prohibit, penalize, or otherwise discourage a depository institution from providing financial services to a cannabis-related legitimate business or to a State or political subdivision of a State that exercises jurisdiction over cannabis-related 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 a manufacturer or producer, or is the owner, operator, or employee of a cannabis-related legitimate business; (B) the account holder later becomes an owner or operator of a cannabis-related legitimate business; or (C) the depository institution was not aware that the account holder is the owner or operator of a cannabis-related legitimate business; and (4) take any adverse or corrective supervisory action on a loan made to an owner or operator of— (A) a cannabis-related legitimate business, solely because the owner or operator owns or operates a cannabis-related legitimate business