SB1094

THE CONTEXT: A financial institution is a bank, trust company, savings and loan association, credit union, consumer lender, international banking facility or financial institution holding company under the jurisdiction of the Department of Insurance and Financial Institutions. An insurer includes a person engaged in the business of making contracts of insurance.

WHAT THE BILL DID: of furnishing consumer reports to third parties (A. R.

WHY IT MATTERED: The practical reason for this bill was to set a clear legal boundary for business instead of leaving the conduct unaddressed. It would prohibit a financial institution, an insurer and a credit reporting agency from discriminating against an individual based on: a) political affiliation; or b) other social credit, environmental, social justice or governmental score or similar values-based or impact criteria, and would also specifies the prohibition does not interfere with the ability for a financial institution, an insurer or a credit reporting agency to discontinue or refuse to conduct business with a person when the action is necessary for the physical safety of the employees, rather than leave the current rule unchanged.