The bill H. 4466 aims to amend the South Carolina Code of Laws by introducing new provisions that prohibit discrimination by financial institutions and insurers based on certain personal characteristics. Specifically, it adds Section 37-6-130 to Chapter 6, Title 37, which defines "financial institutions" and outlines that these entities cannot deny or cancel services based on a person's political opinions, religious beliefs, or other specified factors. Additionally, it includes a provision that allows financial institutions claiming a religious purpose to make determinations based on a customer's religious affiliations. Similarly, Section 38-57-330 is added to Chapter 57, Title 38, imposing similar non-discrimination requirements on insurers.

Both sections emphasize that determinations regarding service provision must be based on risk analysis rather than subjective factors, and they outline various criteria that cannot be used for discrimination, including social credit scores and compliance with environmental or social governance standards. Violations of these provisions are classified as unfair or deceptive acts under the South Carolina Consumer Protection Code, subjecting offenders to penalties and remedies outlined in that code. The bill is currently under consideration in the House Committee on Labor, Commerce, and Industry.

Statutes affected:
04/30/2025: 37-6-130, 38-57-330
Latest Version: 37-6-130, 38-57-330