This bill introduces new regulations for financial institutions and insurers, mandating that they base their service provision decisions on objective, quantitative, and risk-based criteria. Specifically, it prohibits these entities from denying or canceling services based on non-quantitative factors, including a person's political opinions, religious beliefs, or affiliations, unless the institution claims a religious purpose. The bill inserts a new section into RSA 383-A, which outlines that financial institutions must analyze risk factors unique to each customer and prohibits discrimination based on various personal attributes or social credit scores.

Additionally, the bill amends RSA 417:4 to impose similar restrictions on insurers, requiring them to make service determinations based on sound underwriting principles and actual loss experiences. Insurers are also prohibited from denying or canceling services based on the same non-quantitative factors as financial institutions. The bill ensures that all applicable remedies are available to aggrieved parties and classifies violations as unfair or deceptive acts, subject to penalties under RSA 358-A. The act is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 417:4