HB181 Summary

• Establishes the Second Amendment Financial Privacy Act prohibiting financial institutions from disclosing customer payment card records related to firearm transactions, except with written customer authorization or valid government subpoena meeting specified requirements.

• Prohibits financial institutions from engaging in discriminatory conduct based on firearms codes, including declining transactions, limiting business relationships, charging higher fees, or taking other actions to suppress lawful firearms commerce.

• Allows customers to bring civil actions for damages of $5,000 minimum (negligent violations) or $20,000 minimum (intentional violations), plus actual damages and attorney fees, with a five-year statute of limitations.

• Authorizes the Department of Finance to disqualify financial institutions from state contract competitive bidding if they violated the act, admitted to violations, or publicly stated intent to adopt policies violating the act.

• Amends existing Alabama Code Section 5-5A-43 to expressly prohibit banks and financial institutions from disclosing customer financial records except pursuant to lawful subpoena, summons, warrant, or court order, with civil penalty of $30,000 minimum or actual damages for violations.