DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 418 Original 2025 Regular Session Wilder
Abstract: Provides relative to financial institutions transaction.
Proposed law defines "adverse action", "discriminate in the provision of financial services",
"financial institution", "financial service", "person", and "protected from government interference".
Proposed law provides that if a financial institution takes an adverse action against a person, that
person may request a statement of specific reasons within 90 days after receiving notice of the refusal
to provide, restriction of, or termination of service.
Proposed law provides that a financial institution shall not:
(1)Discriminate in the provision of financial services to a person.
(2)Agree, conspire, or coordinate, directly or indirectly, including through any intermediary or
third party, with another person, or group of persons, to engage in activity prohibited by
proposed law.
(3)Provide false or misleading information in the report required in proposed law.
Proposed law provides that any violation of proposed law shall be an unfair or deceptive act or
practice declared unlawful by present law.
Proposed law provides for what civil actions any person harmed by a violation of proposed law may
initiate.
Proposed law provides that if a financial institution can show by clear and convincing evidence that
the plaintiff filed a civil action pursuant to proposed law in bad faith, it shall be entitled to fees and
costs.
Provides for severability.
(Adds R.S. 51:1430)