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Bill

HB 359

prohibiting denial of banking and insurance services based on any factor that is not quantitative, impartial, and risk-based as measured by an objective standard.

2025 Regular Session Introduced by Mike Belcher and 3 co-sponsors

HB 359 ensures fair access to banking and insurance by prohibiting service denials based on subjective criteria, promoting objective, risk-based assessments for all applicants.

Committee Report: Refer for Interim Study 10/28/2025 (Vote 15-2; CC)
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Bill Summary · HB 359

Summary of HB 359: Prohibiting Denial of Banking and Insurance Services

Bill Number: HB 359
Introduced On: January 08, 2025
Current Status: Committee Report: Refer for Interim Study (10/28/2025)
Vote: 15-2; CC
Sponsors:
- Travis James Corcoran (Primary)
- Ross Berry (Cosponsor)
- Tom D Mannion (Cosponsor)
- Mike S Belcher (Cosponsor)

Purpose and Intent

The primary purpose of HB 359 is to ensure that individuals and businesses are not denied access to banking and insurance services based on subjective criteria. The bill aims to establish that such services should only be denied based on factors that are quantitative, impartial, and risk-based, as measured by objective standards. This legislation seeks to promote fairness and transparency in the financial and insurance sectors.

Key Provisions

  • Prohibition of Denial: The bill explicitly prohibits financial institutions and insurance companies from denying services based on non-quantitative factors. This includes any criteria that cannot be objectively measured or assessed.

  • Objective Standards: The legislation emphasizes that decisions regarding the provision of banking and insurance services must rely on objective standards that can be quantitatively evaluated. This is intended to reduce discrimination and bias in service provision.

  • Risk Assessment: The bill encourages the use of risk-based assessments that are impartial and grounded in data, ensuring that all applicants are treated equitably.

Impact

  • Affected Parties: The bill would primarily affect financial institutions, insurance companies, and their clients, including individuals and businesses seeking banking and insurance services. It aims to protect consumers from arbitrary denials based on subjective criteria.

  • Consumer Protection: By establishing clear guidelines for service provision, the bill seeks to enhance consumer protection and promote equitable access to essential financial services.

Procedural Timeline

  • Introduced: January 08, 2025
  • Public Hearing: January 09, 2025
  • Subcommittee Work Sessions: Multiple sessions held from January 15 to March 7, 2025
  • Executive Sessions: Conducted on January 23, March 13, and March 19, 2025
  • Full Committee Work Session: Held on August 27, 2025
  • Executive Session: Scheduled for October 8, 2025
  • Committee Report: Refer for Interim Study on October 28, 2025

Conclusion

HB 359 represents a significant step towards ensuring fair access to banking and insurance services by prohibiting arbitrary denials based on non-objective criteria. The bill's focus on quantitative and risk-based assessments aims to foster a more equitable financial landscape for all consumers. As it moves through the legislative process, further discussions and studies will likely shape its final form and implementation.

Compiled from official sources — confirm details with the bill’s official record.

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