House Bill No. 914, introduced by Representative Amedee, aims to regulate the practices of financial institutions by prohibiting certain discriminatory actions in the provision of financial services. The bill enacts a new section, R.S. 6:424, which defines key terms and outlines what constitutes unsafe and unsound practices. Specifically, it prohibits financial institutions from denying or canceling services based on political opinions, religious beliefs, or any non-quantitative risk factors, including the use of social credit scores. The bill also allows for exceptions for institutions claiming a religious purpose in their decision-making processes.

Additionally, the bill mandates that financial institutions must assess service provision based on unique risk factors for each customer and requires them to attest annually to their compliance with these regulations. Violations of the provisions outlined in the bill will subject financial institutions to penalties under Louisiana Banking Law and the Unfair Trade Practices and Consumer Protection Act. The bill includes a severability clause, ensuring that if any part of the law is deemed invalid, the remaining provisions will still be enforceable.