Banks, insurance companies, and other financial services providers cannot deny services to customers based on non-financial factors like environmental or social concerns, diversity initiatives, or subjective measures—they can only reject applicants who fail to meet documented, risk-based financial standards set in advance. The law also prohibits financial institutions from selectively denying services in ways that unfairly disadvantage someone from competing in a market where the institution has a financial interest, or from coordinating with other institutions to deny services.
This bill does not directly amend codified state law.
Commerce and Energy Deferred to the 41st legislative day Passed, YEAS 10, NAYS 3.
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 193
Aaron Aylward
Prime sponsor · Rep.
R
Tom Pischke
Prime sponsor · Sen.
R
Cosponsors
Commerce and Energy — Deferred to the 41st legislative day