SB1167, also known as the "Equality in Financial Services Act," proposes amendments to the Arizona Revised Statutes by adding section 6-194, which aims to prevent discrimination in financial services. The bill prohibits financial institutions from using social credit scores to discriminate against customers in the provision of financial services, including refusing, terminating, or restricting services. It also forbids financial institutions from conspiring or coordinating with others to engage in such discriminatory practices.

The bill allows customers who have been denied service or whose service has been restricted or terminated to request a written statement of specific reasons from the financial institution within 90 days. The financial institution must provide this statement, which includes a detailed explanation of the decision, a copy of the service terms, and a citation to the specific provisions relied upon in making the decision. Additionally, the bill grants the Attorney General authority to investigate and take action against financial institutions suspected of violating these provisions. It also allows individuals harmed by such violations to initiate civil actions, with potential recovery of actual damages or statutory damages, and provides for the award of attorney fees and court costs to prevailing plaintiffs.

Statutes affected:
Introduced Version: 6-194
Senate Engrossed Version: 6-194