This bill establishes new regulations to prevent discrimination by financial institutions in the provision of financial services, specifically targeting the use of social credit scores. It defines discrimination as the act of using a social credit score to decline, restrict, or terminate financial services to individuals. The bill outlines what constitutes a social credit score, including evaluations based on protected speech, religious exercise, and participation in certain business activities, among other criteria. It also mandates that individuals who experience such discrimination can request a written explanation from the financial institution detailing the reasons for the denial or restriction of services.

Furthermore, the bill empowers the attorney general to enforce its provisions through civil action against financial institutions found in violation. Courts may impose various remedies, including injunctive relief and damages, with a cap on actual damages at $10,000, or up to $30,000 if the violation is deemed willful. The bill aims to ensure transparency and accountability in the financial services sector, providing individuals with the right to understand the basis for any adverse actions taken against them by financial institutions.