The proposed bill establishes new regulations to prevent discrimination by financial institutions in the provision of financial services. It defines discrimination as the use of a social credit score by financial institutions to decline, restrict, or terminate services to individuals. The bill outlines what constitutes a social credit score, including evaluations based on protected speech, religious practices, and participation in certain business activities, among other criteria. It mandates that individuals who experience such discrimination can request a written explanation from the financial institution within 90 days, detailing the reasons for the action taken against them.

Additionally, the bill empowers the attorney general to enforce its provisions through civil actions against financial institutions suspected of violations. Courts may impose various remedies, including injunctive relief and damages, with a cap of $10,000 for actual damages, or up to $30,000 if the violation is deemed willful. The bill aims to ensure transparency and accountability in the financial services sector, protecting individuals from discriminatory practices based on their social credit scores.