This bill aims to enhance consumer protections in financial services by prohibiting financial institutions from discriminating against customers based on certain factors, particularly related to social credit scores. It defines key terms such as "discriminate in the provision of financial services" and "social credit score," and establishes that customers can request specific reasons for any denial, restriction, or termination of service. Financial institutions are required to provide a detailed explanation within fourteen days of such requests. The bill also empowers the Attorney General to investigate violations and allows individuals harmed by such discrimination to initiate civil actions for damages or seek injunctive relief.

Additionally, the bill amends the Oklahoma Consumer Protection Act to include violations related to the provisions outlined in this act, making such violations unlawful. It specifies recovery amounts for damages, including a minimum of $10,000 for each violation, with potential increases for willful violations. The bill also updates statutory references and includes new legal language to clarify the definitions and procedures involved. The act is set to take effect on November 1, 2026.

Statutes affected:
Introduced: 15-753