HB 1228 Summary

• Prohibits banks, trust companies, credit unions, and general business entities from discriminating against customers based on subjective or arbitrary standards including social media posts, political affiliation, membership in clubs or unions, employer, social credit scores, and environmental/social/governance (ESG) criteria.

• Allows financial institutions and businesses to refuse service when necessary for physical safety of employees and to offer investments or services with subjective standards if fully disclosed to customers before entering into contracts.

• Imposes civil penalties of $50,000 for first violation and $250,000 for subsequent violations on banks, trust companies, credit unions, and business entities that violate the prohibition.

• Requires the Oklahoma Attorney General to enforce the law against business entities violating these provisions.

• Declares the act an emergency measure effective immediately upon passage and approval.