HB1247Tabled
provide consumer protection through fair access to financial and insurance products and services.
This bill establishes new consumer protections requiring South Dakota financial institutions (banks, credit unions, etc.) to make decisions about providing or denying services based on individual risk factors rather than blanket policies. The bill defines what counts as unsafe or unsound practices and prohibits financial institutions from engaging in them, while allowing religiously-affiliated institutions to operate under their stated religious purposes.