MT SB240

Prohibits large financial institutions (banks with over $100 billion in assets, payment processors handling over $100 billion annually) from using "social credit scores" to deny, restrict, or terminate financial services

Defines "social credit score" broadly to include evaluations based on religious exercise, protected speech, failure to adopt greenhouse gas targets, refusal to conduct diversity audits, refusal to facilitate abortions or gender transitions, or business dealings with fossil fuel or firearms industries

Requires financial institutions to provide written explanation within 30 days when a person requests reasons for service denial, restriction, or termination, including specific terms of service citations

Creates private right of action allowing harmed individuals to sue for actual damages or $10,000 per violation (whichever is greater), with up to 3x damages ($30,000 minimum) for willful violations, plus attorney fees

Effective July 1, 2025