The proposed bill establishes a new section in Wyoming law, specifically W.S. 13-1-901, which mandates the attorney general to defend the state's interests in the dual banking system. The legislation outlines the importance of the dual banking system, which has been in place since the National Banking Act of 1863, emphasizing that it allows states to cater to the banking needs of their citizens and fosters innovation within the banking industry. The bill asserts that state and nationally chartered banks should be treated equitably under the law, without bias based on the origin of their charters or other extraneous factors.

Furthermore, the attorney general is tasked with investigating any claims of unfair treatment of Wyoming state-chartered banks by federal or other state regulators. The attorney general is authorized to take necessary actions to protect Wyoming's interests in the dual banking system and ensure that Wyoming state-chartered banks receive fair treatment comparable to that of nationally chartered or other state-chartered banks. The act is set to take effect on July 1, 2025.