HB418 Alabama 2025 Session

Summary

Primary Sponsor

Jamie Kiel Representative

Republican

Session

2025 Regular Session

Title

Financial Institutions and Insurers; using social credit score to discriminate prohibited; violations of insurers an unfair trade practice; fines, penalties and remedies authorized

Description

Under existing federal law, banks are prohibited from engaging in lending practices that discriminate on the basis of race, ethnicity, religion, and other factors.

This bill would provide legislative findings and define certain terms.

This bill would define "social credit score" to include a person exercising his or her lawful right to religion or speech, failing or refusing to facilitate or conduct certain practices, or engaging in certain business activities.

This bill would allow a financial institution or insurer to claim a religious purpose exemption when making certain determinations regarding the provision of services.

This bill would prohibit certain financial institutions and insurers from using a social credit score and other nonquantitative or biased factors to discriminate in the provision of services.

This bill would provide penalties for violations.

This bill would also provide that a violation would authorize the Alabama State Banking Department or the Alabama Department of Insurance to enforce the act; HB418 INTRODUCED and provide for penalties for the violation.

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Subjects

Businesses & Financial Institutions