Financial Institutions and Insurers; using social credit score to discriminate prohibited; violations of insurers an unfair trade practice; fines, penalties and remedies authorized

SB 228, the Equality in Financial Services Act, prohibits Alabama banks and insurers from using "social credit scores" to deny services. These scores are defined to include evaluations based on religion, speech, association, firearm ownership, or refusal to comply with certain environmental or diversity initiatives. The bill allows financial institutions to claim a religious exemption for service decisions but bans discrimination based on non-financial factors. Violations would be treated as unfair trade practices, subject to fines and enforcement by Alabama's Banking Department or Department of Insurance.