IN SB0028 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on January 8 2024 - 25% progression
Action: 2024-01-09 - Senator Niemeyer added as coauthor
Pending: Senate Insurance & Financial Institutions Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 8 2024 - 25% progression
Action: 2024-01-09 - Senator Niemeyer added as coauthor
Pending: Senate Insurance & Financial Institutions Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Discriminatory financial services practices. Prohibits a financial services provider from discriminating in providing financial services to a consumer by using a social credit score as a basis for directly or indirectly: (1) declining to provide to the consumer full and equal access to one or more financial services; or (2) providing the consumer with one or more financial services on less favorable terms and conditions than would otherwise apply to the consumer if a social credit score were not used. Defines "social credit score" for purposes of these provisions. Specifies that the term does not include an analysis that involves a financial services provider's evaluation of any quantifiable risks of a consumer's participation in certain business activities or business associations, if the analysis is based on impartial, financial risk based standards that are: (1) established in advance; and (2) publicly disclosed to customers and potential customers; by the financial services provider. Provides that if a financial services provider refuses to provide, terminates, or restricts one or more financial services with respect to a consumer, the consumer may request from the financial services provider a statement of the specific reasons constituting the basis for the refusal, termination, or restriction. Provides that a financial services provider that receives such a request shall transmit to the consumer a written statement setting forth the specific reasons constituting the basis for the refusal, termination, or restriction. Sets forth requirements regarding the: (1) content of; and (2) means and time frame for submitting; a request or statement under these provisions. Provides that a violation of these provisions constitutes a deceptive act that is actionable under the deceptive consumer sales act only by the attorney general. Provides that a consumer aggrieved by a violation of these provisions may bring a civil action for damages, injunctive relief, or both.
Title
Discriminatory financial services practices.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-09 | Senate | Senator Niemeyer added as coauthor |
| 2024-01-09 | Senate | Senator Freeman added as third author |
| 2024-01-09 | Senate | Senator Byrne added as second author |
| 2024-01-08 | Senate | First reading: referred to Committee on Insurance and Financial Institutions |
| 2024-01-08 | Senate | Authored by Senator Tomes |
