T26CH38
Title 26 > T26CH38
Sections (6)
26-3801
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3801. SHORT TITLE. This chapter shall be known and may be cited as the Transparency in Financial Services Act. History: [26-3801, added 2025, ch. 164, sec. 1, p. 785.]
26-3802
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3802. construction of terminology. The definitions provided in section 26-3803 , Idaho Code, shall be construed in favor of the broadest protection of the conduct, opinions, and beliefs protected by the first amendment to the United States constitution, the constitution of the state of Idaho, and applicable state and federal law. History: [26-3802, added 2025, ch. 164, sec. 1, p. 785.]
26-3803
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3803. DEFINITIONS. For purposes of this chapter: (1) Discriminate in the provision of financial services means utilizing a social credit score to directly or indirectly decline to provide full and equal enjoyment in the provision of financial services. Discriminate in the provision of financial services includes a refusal to provide, termination of, or restriction on financial services, notwithstanding the provisions of section 48-605 , Idaho Code. (2)(a) Financial institution means: (i) A bank that has total assets over one hundred billion dollars (100,000,000,000) in transactions in the last calendar year. (b) Financial institution includes any affiliate or subsidiary company owned by or controlled by the covered financial institution. (3) Financial service means any financial product or service offered by a financial institution. (4) Person means any individual, partnership, association, joint stock company, trust, corporation, nonprofit organization, or other business or legal entity. (5) Protected from government interference refers to any speech, religious exercise, association, expression, or conduct that is protected by the first amendment to the United States constitution other than activities that the supreme court of the United States has expressly held are unprotected as of July 1, 2025, such as obscenity, fraud, incitement, true threats, fighting words, or defamation. (6)(a) Social credit score means any analysis, rating, scoring, list, or tabulation that evaluates any of the following: (i) Any person’s exercise of religion that is protected from government interference by the first amendment to the United States constitution, section 4, article I of the constitution of the state of Idaho, or federal or state law, including all aspects of religious observance and practice, as well as belief and affiliation; (ii) Any person’s speech, expression, or association that is protected from government interference by the first amendment to the United States constitution, section 9, article I of the constitution of the state of Idaho, or federal or state law, including the person’s opinions, speech, or other expressive activities, including the lawful preservation of privacy regarding those activities, such as the refusal to disclose lobbying, political activity, or contributions beyond what is required by applicable state and federal law; (iii) Any person’s failure or refusal to adopt any targets or disclosures related to greenhouse gas emissions beyond what is required by applicable law; (iv) Any person’s failure or refusal to conduct any type of racial, diversity, or gender audit or disclosure or to provide any sort of quota, preference, or benefit based,
26-3804
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3804. EXPLANATION REQUIRED UPON REQUEST — DISCRIMINATION PROHIBITED. (1) If a financial institution refuses to provide, restricts, or terminates service to a customer, that customer may request a statement of specific reasons within ninety (90) days after receiving notice of the refusal to provide, restriction of, or termination of service. The customer may request the statement from a customer service representative or designated account representative by phone, United States mail, or email. Unless otherwise prohibited by law, the financial institution shall transmit the statement of specific reasons via United States mail or email within fourteen (14) days of receiving the customer’s request. The statement of specific reasons shall include: (a) A detailed explanation of the basis for the denial or termination of service, including a description of any of the customer’s speech, religious exercise, business activity with a particular industry, or other conduct that was, in whole or in part, the basis of the financial institution’s denial or termination of service; (b) A copy of the terms of service agreed to by the customer and the financial institution; and (c) A citation to the specific provisions of the terms of service upon which the financial institution relied to refuse to provide, restrict, or terminate service. (2) A financial institution shall not: (a) Discriminate in the provision of financial services to a person; or (b) Agree, conspire, or coordinate, directly or indirectly, including through any intermediary or third party, with another person, or group of persons, to engage in activity prohibited by this subsection. (3) This section does not prohibit a financial institution declining to provide, restricting, or terminating financial services to a person when there is evidence that the person is engaged in actual or suspected fraud, criminal conduct, or incitement to unlawful actions, or if the person threatens violence or commits violence against a bank, its affiliates, its employees, or other persons or creates obscenity or another form of expression that is not protected by the United States constitution. History: [26-3804, added 2025, ch. 164, sec. 1, p. 786.]
26-3805
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3805. enforcement. (1) A violation of this chapter is a violation of the Idaho consumer protection act, chapter 6, title 48 , Idaho Code. (2) The attorney general may undertake any and all actions authorized by the Idaho consumer protection act to investigate and enforce a violation of this chapter. (3) A person harmed by a violation of this chapter may initiate a civil action and may seek remedies pursuant to section 48-608 , Idaho Code. History: [26-3805, added 2025, ch. 164, sec. 1, p. 787.]
26-3806
TITLE 26 BANKS AND BANKING CHAPTER 38 TRANSPARENCY IN FINANCIAL SERVICES ACT 26-3806. Severability. It is the intent of the legislature that every provision, section, subsection, sentence, clause, phrase, or word in this chapter, and every application of the provisions in this chapter, shall be severable from each other. If any application of any provision in this chapter to any person, group of persons, or circumstances is found by a court to be invalid, the remaining applications of that provision to all other persons and circumstances shall be severed and may not be affected. All constitutionally valid applications of this chapter shall be severed from any applications that a court finds to be invalid, leaving the valid applications in force, because it is the legislature’s intent and priority that the valid applications be allowed to stand alone. The legislature further declares that it would have passed this chapter, and each provision, section, subsection, sentence, clause, phrase, or word, and all constitutional applications of this chapter, irrespective of the fact that any provision, section, subsection, sentence, clause, phrase, or word, or applications of this chapter, were to be declared unconstitutional. History: [26-3806, added 2025, ch. 164, sec. 1, p. 787.]