South Carolina General Assembly
125th Session, 2023-2024

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S. 559

STATUS INFORMATION

General Bill
Sponsors: Senators Kimbrell, M. Johnson, Rice, Reichenbach, Climer, Adams, Talley, Corbin and Verdin
Document Path: SR-0293KM23.docx

Introduced in the Senate on February 22, 2023
Currently residing in the Senate Committee on Banking and Insurance

Summary: Banking Practices

HISTORY OF LEGISLATIVE ACTIONS

Date Body Action Description with journal page number
2/22/2023 Senate Introduced and read first time (Senate Journal-page 4)
2/22/2023 Senate Referred to Committee on Banking and Insurance (Senate Journal-page 4)

View the latest legislative information at the website

VERSIONS OF THIS BILL

02/22/2023



A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 34-3-120 SO AS TO PROVIDE THAT BANKS MAY NOT USE SOCIAL CREDIT SCORES WHEN MAKING DECISIONS CONCERNING WHETHER TO PROVIDE SERVICES TO A CONSUMER OR BUSINESS ENTITY; AND BY ADDING SECTION 34-26-120 SO AS TO PROVIDE THAT CREDIT UNIONS MAY NOT USE SOCIAL CREDIT SCORES WHEN MAKING DECISIONS CONCERNING WHETHER TO PROVIDE SERVICES TO A CONSUMER OR BUSINESS ENTITY.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1.   Article 1, Chapter 3, Title 34 of the S.C. Code is amended by adding:

   Section 34-3-120.   When making decisions concerning whether to provide services to a consumer or business entity, any bank, banking association, or trust company chartered and engaged in the banking business pursuant to the laws of this State must consider only quantitative, impartial, and risk-based standards, including risk-based standards related to a particular business sector, and may not use any rating, scoring, analysis, tabulation, or action that considers a social credit score based on factors including, but not limited to:

   (1) political opinions, speech, or affiliations;

   (2) religious beliefs, religious exercise, or religious affiliations;

   (3) firearm ownership;

   (4) engagement in the lawful manufacture, distribution, sale, purchase, or use of firearms or ammunition;

   (5) engagement in the exploration, production, utilization, transportation, sale, or manufacture of fossil-based energy, timber, mining, or agriculture;

   (6) support of the State or federal government combatting illegal immigration, drug trafficking, or human trafficking;

   (7) engagement with, facilitation of, employment by, support of, business relationship with, representation of, or advocacy for any person who espouses or any business that is identified with any of the factors contained in items (1) through (6).

SECTION 2.   Article 1, Chapter 26, Title 34 of the S.C. Code is amended by adding:

   Section 34-26-120.   When making decisions concerning whether to provide services to a consumer or business entity, any credit union operating pursuant to the laws of this State must consider only quantitative, impartial, and risk-based standards, including risk-based standards related to a particular business sector, and may not use any rating, scoring, analysis, tabulation, or action that considers a social credit score based on factors including, but not limited to:

   (1) political opinions, speech, or affiliations;

   (2) religious beliefs, religious exercise, or religious affiliations;

   (3) firearm ownership;

   (4) engagement in the lawful manufacture, distribution, sale, purchase, or use of firearms or ammunition;

   (5) engagement in the exploration, production, utilization, transportation, sale, or manufacture of fossil-based energy, timber, mining, or agriculture;

   (6) support of the State or federal government combatting illegal immigration, drug trafficking, or human trafficking;

   (7) engagement with, facilitation of, employment by, support of, business relationship with, representation of, or advocacy for any person who espouses or any business that is identified with any of the factors contained in items (1) through (6).

SECTION 3.   This act takes effect upon approval by the Governor.

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This web page was last updated on May 28, 2024 at 12:27 PM