Assigned to FIN                                                                                                                      FOR COMMITTEE

ARIZONA STATE SENATE

Fifty-Seventh Legislature, Second Regular Session

FACT SHEET FOR H.B. 2903

social credit; use; prohibition

Purpose

Prohibits the state from requiring a bank or financial institution to use a social credit score when evaluating whether to lend money to a customer.

Background

Statute authorizes and outlines the regulation and operation of financial institutions in Arizona. A financial institution is a bank, trust company, savings and loan association, credit union, consumer lender, international banking facility or financial institution holding company under the jurisdiction of the Department of Insurance and Financial Institutions. The Department of Insurance and Financial Institutions licenses, supervises and regulates state-chartered financial institutions and enterprises and is responsible for annual assessments of the financial institutions and enterprises to ensure the safety and stability of the financial services industry (A.R.S. Title 6).

There is no anticipated fiscal impact to the state General Fund associated with this legislation.

Provisions

1. Prohibits the state from requiring a bank or financial institution to use a social credit score when evaluating whether to lend money to a customer.

2. Becomes effective on the general effective date.

House Action

COM               2/3/26        DP       8-3-0-0

3^rd Read          3/3/26                    33-23-3-0-1

Prepared by Senate Research

March 10, 2026

MG/hk