SB16: 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.
Plain-Language Summary
This bill aims to prevent financial services companies from discriminating against people based on their social credit score. It also requires investment advisors to get clients' written consent before investing their money in certain funds or companies that boycott specific groups.
Who This Affects
Kansans who use financial services, such as banks and investment firms, may be affected by this bill. Specifically, individuals with lower social credit scores could face discrimination, while others may need to provide explicit consent for investments.
Key Provisions
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Timeline
Introduced
Thursday, January 16, 2025
Last Action
Senate Referred to Committee on Financial Institutions and Insurance
Jan 20, 2025
Sponsors
No sponsors listed.
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