The proposed bill seeks to amend the Arizona Revised Statutes by adding a new section, 6-194, which explicitly prohibits the state from requiring banks or financial institutions to utilize a social credit score in their lending evaluations. This insertion aims to protect consumers from potential discrimination based on social credit metrics when seeking loans.

Currently, there are no specific statutes addressing the use of social credit scores in lending practices, leaving banks and financial institutions to determine their own criteria for evaluating loan applications. The new provision would clarify that such scores cannot be mandated by the state, thereby ensuring that traditional credit evaluation methods remain the standard for lending decisions.

Statutes affected:
Introduced Version: 6-194