Chaptered by Secretary of State - Chapter 871, Statutes of 2026.
Summary
The law requires banks, credit unions and other licensed financial institutions to prove they serve low‑ and moderate‑income neighborhoods and do not discriminate on protected characteristics. The state’s financial regulator must assess their performance, assign ratings, and can block state deposits or contracts for poorly rated institutions, while also conducting periodic nondiscrimination examinations and imposing penalties for violations.
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