ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

 

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note

HB 2903: social credit; use; prohibition

Sponsor: Representative Montenegro, LD 29

Committee on Commerce

Overview

Asserts this State cannot require a bank or financial institution to use a social credit score in determining whether to lend money.

History

A bank may lend up to 20% of its capital to a single borrow. A bank may lend an additional 10% of its capital if the additional amounts are fully secured by readily marketable collateral that has a market value at least equal to the amount of the loan (A.R.S. § 6-352).

A bank uses certain factors in determining whether to lend money and the amount that is lent. These factors may include a borrower's credit score, credit history, debt-to-income ratio, employment history, collateral and the type of loan and the loan term.

Provisions

1.   Prohibits the State from requiring a bank or financial institution to use a social credit score when the bank or financial institution evaluates whether to lend money to a customer. (Sec. 1)

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5.   Initials PB                       HB 2903

6.   1/28/2026  Page 0 Commerce

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