The bill SB1138 aims to prohibit financial institutions, insurers, and credit reporting agencies from discriminating against individuals based on political affiliation or other social credit criteria, including environmental, social, and governance factors. This legislation expands the current law by explicitly including insurers and credit reporting agencies in the prohibition against discrimination, which was previously limited to financial institutions. It also emphasizes that discrimination based on social credit scores poses a statewide concern, threatening the rights and privileges of Arizona's inhabitants and the foundations of a democratic state.

Additionally, the bill allows financial institutions to offer products or services that include subjective standards, provided these standards are fully disclosed to potential customers before entering into contracts. It clarifies that the prohibition against discrimination does not interfere with a financial institution's ability to refuse business for safety reasons. Overall, the bill seeks to protect individuals from discrimination based on their social values while ensuring transparency in financial dealings.

Statutes affected:
Introduced Version: 6-194
Senate Engrossed Version: 6-194, 20-111, 44-1698.03