Prohibiting discrimination by financial services companies on the basis of social credit score and requiring registered investment advisers to obtain written consent from clients prior to investing client moneys in mutual funds, equity funds, companies and financial institutions that engage in ideological boycotts.

Summary

The bill stops banks, insurers and other financial services companies from refusing or limiting services because a person has a negative social‑credit rating. It also obligates registered investment advisers to obtain a written, one‑time consent from clients before placing money in mutual funds, equity funds or companies that engage in so‑called ideological boycotts. The measure targets large firms (assets of $20 billion or more) and adds disclosure and enforcement rules.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share