The bill establishes definitions and regulations concerning financial services companies and their interactions with clients based on social credit scores. It defines key terms such as "company," "financial institution," "financial services company," and "ideological boycott," which refers to actions taken against companies based on their involvement in certain industries, including fossil fuels, agriculture, and firearms. The bill prohibits financial services companies from discriminating against individuals based on their social credit scores and mandates that any denial of financial services must be justified by documented, risk-based financial standards. Additionally, it requires transparency in the decision-making process, compelling companies to disclose the criteria used for denying services.

Furthermore, the bill outlines enforcement mechanisms for violations, categorizing them as deceptive acts or unsound practices, depending on the type of financial services company involved. It sets a threshold for applicability, stating that the provisions only apply to companies with total assets of $20 billion or more. Registered investment advisers are also required to obtain written consent from clients before investing in funds that engage in ideological boycotts, ensuring clients are aware of potential impacts on their investment returns. The bill aims to ensure fair access to financial services while limiting the influence of ideological considerations in financial decision-making.