The proposed bill, known as the Financial Services Freedom Act, aims to enhance consumer protections in the financial services sector by prohibiting discrimination by financial institutions based on factors such as religious or political beliefs. It mandates that if a financial institution denies, restricts, or terminates a customer's service, the customer has the right to request a detailed explanation within 90 days. The bill also empowers the Attorney General to investigate violations and allows individuals to initiate civil actions for damages or seek injunctions against discriminatory practices.

Additionally, the bill amends the Oklahoma Consumer Protection Act to include violations related to the provisions of the Financial Services Freedom Act, making such violations unlawful. It establishes specific definitions for terms like "discriminate in the provision of financial services" and "social credit score," emphasizing the need for transparency and fairness in financial dealings. The act is set to take effect on November 1, 2025.

Statutes affected:
Introduced: 15-753