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Bill

SB 949

Relating to prohibitions on deceptive and unfair practices related to financial institutions discriminating in the provision of financial services to consumers and other persons.

89th Legislature (2025) Introduced by Tan Parker

SB 949 prohibits Texas financial institutions from discriminating or using deceptive/unfair practices when providing financial services to consumers.

Referred to Business & Commerce
#business&commerce--general(i0050) #business&commerce--tradepractices(i0006) #civilremedies&liabilities(i0065) #discrimination(s0052) #equalityinfinancialservicesact(eh0sq) #financial--banks(i0366)
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WeVote Research Nonpartisan
Bill Summary · SB 949

Legislative bill overview

SB 949 would establish prohibitions against deceptive and unfair practices by financial institutions when providing financial services to consumers. The bill targets discriminatory conduct in lending, account access, and other financial service provision based on protected characteristics or other unfair criteria. This appears to be consumer protection legislation aimed at strengthening enforcement against financial discrimination.

Why is this important

Financial discrimination directly affects consumers' access to credit, banking services, and wealth-building opportunities. Strengthening protections and enforcement mechanisms can help prevent systemic exclusion of certain groups from financial services, which has documented historical and ongoing consequences for economic opportunity and equity.

Potential points of contention

  • Definition clarity: The specific definitions of "deceptive" and "unfair" practices may be debated, as financial institutions argue some pricing/underwriting decisions are risk-based rather than discriminatory
  • Regulatory burden: Banks and lenders may contend the bill creates compliance costs and administrative complexity without clear enforcement mechanisms specified
  • Scope of coverage: Questions may arise about which entities qualify as "financial institutions" and whether the bill applies equally to traditional banks, fintech companies, and non-bank lenders

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

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