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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 59th Legislature (2023 )
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32	32	HOUSE BILL 2212 By: West (Kevin)
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38	38	AS INTRODUCED
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40	40	An Act relating to unfair business practices ;
41	41	prohibiting banks and trust companies from engaging
42	42	in certain discriminatory practic es; permitting
43	43	certain conduct for safety reas ons; permitting
44	44	certain practices after full disclosure and
45	45	explanation; imposing civil penalties for violation;
46	46	prohibiting credit unions from engaging in certain
47	47	discriminatory practices; permitting certain c onduct
48	48	for safety reasons; permitting certain practices
49	49	after full disclosure and explanation; imposing civil
50	50	penalties for violation; prohibiting business
51	51	entities from engaging in certain discriminatory
52	52	practices; permitting certain conduct for safety
53	53	reasons; permitting certain practices after full
54	54	disclosure and explanation; imposing civil penalties
55	55	for violation; requiring enforcement by the Attorney
56	56	General; defining term; providing for codification;
57	57	and declaring an emergency .
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63	63	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
64	64	SECTION 1. NEW LAW A new section of law to be codified
65	65	in the Oklahoma Statutes as Section 1801 of Title 6, unless there is
66	66	created a duplication in numbering, reads as follows:
67	67	A. No bank or trust company doing business in this state ,
68	68	either directly or through the use of an outside contractor, shall
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95	95	discriminate against, advocate for , or cause adverse treatment of
96	96	any individual, business , or other customer based on subjective or
97	97	arbitrary standards, including, but not limited to:
98	98	1. Social media posts;
99	99	2. Participation or membership in any club, association , or
100	100	union;
101	101	3. Political affiliation;
102	102	4. Employer;
103	103	5. Social credit score;
104	104	6. Environmental, social and governance criteria; or
105	105	7. Other similar values-based or impact criter ia.
106	106	B. Nothing in this section shall be construed to interfere with
107	107	a bank's or trust company's ability to discontinue or refuse to
108	108	conduct business with an individual account holder or potential
109	109	customer when such action is necessary for the physical saf ety of
110	110	such bank's or trust company's employees.
111	111	C. Notwithstanding the provisions of subsection A of this
112	112	section, a bank or trust company may offer customers investments,
113	113	products, or services that include subjective standards if such
114	114	standards are fully disclosed and explained to any potential
115	115	customer or investor prior to entering into a contract for such
116	116	investment, product or service.
117	117	D. Any bank or trust company that violates the provisions of
118	118	this section shall be subject to a civil penalty of Fifty Thousand
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145	145	Dollars ($50,000.00) for a first violation and a civil penalty of
146	146	Two Hundred and Fifty Thousand Dollars ( $250,000.00) for a second or
147	147	subsequent violation.
148	148	SECTION 2. NEW LAW A new section of law to be codified
149	149	in the Oklahoma Statutes as Section 2028 of Title 6, unless there is
150	150	created a duplication in numbering, reads as follows:
151	151	A. No credit union doing business in this state shall
152	152	discriminate against, advocate for , or cause adverse treatment of
153	153	any individual, business, or other customer based on subjective or
154	154	arbitrary standards, including, but not limited to:
155	155	1. Social media posts;
156	156	2. Participation or membership in any club, association , or
157	157	union;
158	158	3. Political affiliation;
159	159	4. Employer;
160	160	5. Social credit score;
161	161	6. Environmental, social and governance criteria; or
162	162	7. Other similar values-based or impact criteria.
163	163	B. Nothing in this secti on shall be construed to interfere with
164	164	a credit union's ability to discontinu e or refuse to conduct
165	165	business with an individual account holder or potential customer
166	166	when such action is necessary for the physical safety of such credit
167	167	union's employees.
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194	194	C. Notwithstanding the provisions of subsection A of this
195	195	section, a credit union may offer customers investments, products ,
196	196	or services that include subjective standards if such standards are
197	197	fully disclosed and explained to any potential customer or investor
198	198	prior to entering into a contract for such investment, product, or
199	199	service.
200	200	D. A credit union that violates the provisio ns of this section
201	201	shall be subject to a civil penalty of Fifty Thousand Dollars
202	202	($50,000.00) for a first violation and a civil penalty of Two
203	203	Hundred and Fifty Thousan d Dollars ($250,000.00) for a second or
204	204	subsequent violation.
205	205	SECTION 3. NEW LAW A new section of law to be codified
206	206	in the Oklahoma Statutes as Section 2101 of Title 18, unless there
207	207	is created a duplication in numbering, reads as follows:
208	208	A. No business entity in this s tate shall discriminate against,
209	209	advocate for, or cause adverse treatme nt of any individual,
210	210	business, or other customer in such business entity 's business
211	211	practices based on subjective or arbitrary standards, including, but
212	212	not limited to:
213	213	1. Social media posts;
214	214	2. Participation or membership in any club, association , or
215	215	union;
216	216	3. Political affiliation;
217	217	4. Employer;
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244	244	5. Social credit score;
245	245	6. Environmental, social and governance criteria; or
246	246	7. Other similar values-based or impact criteria.
247	247	B. Nothing in this section shall be construed to interfere with
248	248	a person's or business entity's ability to discontinue or refuse to
249	249	conduct business with a customer when such action is necessary for
250	250	the physical safety of such person, such business entity , or such
251	251	business entity's employees.
252	252	C. Notwithstanding the provisions of subsection A, a business
253	253	entity may engage in a business practice d escribed in subsection A
254	254	of this section if the specific business practice is fully disclosed
255	255	to the potential cus tomer prior to such potential customer and such
256	256	business entity entering into any business transaction.
257	257	D. A business entity that violates the provisions of this
258	258	section shall be subject to a civil penalty of Fifty Thousand
259	259	Dollars ($50,000.00) for a first violation and a civil penalty of
260	260	Two Hundred and Fifty Thousand Dollars ( $250,000.00) for a second or
261	261	subsequent violation. The Attorney General shall enforce this
262	262	section.
263	263	E. For purposes of this section, "business entity" means a sole
264	264	proprietorship, corporation, limited liability company, association,
265	265	partnership, joint-stock company, joint venture , mutual fund, trust,
266	266	joint tenancy, or other similar form of business organization.
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294	294	SECTION 4. It being immediately neces sary for the preservation
295	295	of the public peace, health or safety, an emergency is hereby
296	296	declared to exist, by reason whereof this act shall take effect and
297	297	be in full force from and after its passage an d approval.
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299	299	59-1-5189 AQH 11/08/22

Oklahoma 2024 Regular Session

Oklahoma House Bill HB2212 Compare Versions