🏦 Indiana SB 28

Issue: Banking Fairness

Latest Action: Introduced on January 7, 2024

This bill prohibits a financial services provider from discriminating in providing financial services to a consumer by using a social credit score as a basis for directly or indirectly:

  1. declining to provide to the consumer full and equal access to one or more financial services; or
  2. providing the consumer with one or more financial services on less favorable terms and conditions than would otherwise apply to the consumer if a social credit score were not used.

It defines "social credit score" as any analysis, rating, score, numerical value, or categorization that is derived from, among other things, a consumer's exercise of speech, expression, or assembly. It specifies that the term does not include an analysis that involves a financial services provider's evaluation of any quantifiable risks of a consumer's participation in certain business activities or business associations, if the analysis is based on impartial, financial risk based standards that are:

  1. established in advance; and
  2. publicly disclosed to customers and potential customers;

by the financial services provider. It provides that if a financial services provider refuses to provide, terminates, or restricts a consumer’s account, the consumer may request an explanation.

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Read the Bill: IN SB 28
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Bill Status
  • Introduced
  • Passed First Committee
  • Passed First Chamber
  • Passed Both Committees
  • Passed Both Chambers
  • Signed
  • Enacted
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