The bill outlines that financial institutions, which include large banks and payment processors, cannot refuse service based on non-financial criteria such as a person's choice not to participate in gender audits or their associations with specific businesses. By defining the criteria of discrimination related to social credit scores, the bill aims to protect individuals' civil rights, particularly in how they relate to financial institutions. The provisions of SB1337 mandate that if service is denied or restricted, institutions must provide a detailed explanation to the affected customer within a specified timeframe.
Summary
SB1337, introduced in the Arizona Senate, aims to amend Title 44, Chapter 11 of the Arizona Revised Statutes by adding Article 12.1, which focuses on financial services and the use of social credit scores. The bill specifically prohibits financial institutions from discriminating against individuals based on their social credit scores when providing financial services. This includes any actions taken by financial institutions that would limit or deny access to financial services rooted in a person's religious beliefs, speech, environmental actions, or other personal attributes as specified in the bill's definitions.
Contention
There may be points of contention regarding the enforcement mechanisms of the bill. It grants the Attorney General the authority to investigate complaints related to violations, and individuals harmed by any violations imposed by financial institutions are entitled to file civil actions for relief. However, concerns might arise over the clarity of definitions and the practical implications of enforcing these non-discrimination principles in an industry that often operates within a complex regulatory environment. Opponents might argue that such regulations could hinder financial institutions' ability to manage risk effectively while supporters believe it is a necessary measure to safeguard against unfair discrimination.
Relating to accountability of institutions of higher education, including educator preparation programs, and online institution resumes for public institutions of higher education.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.