Prohibiting Banks from Socially Motivated Discrimination in Government Contracts
This new law aims to prevent banks from refusing to do business with companies based on social policy considerations while simultaneously seeking government contracts. It means financial institutions cannot reject clients based on their social views if they wish to provide services to government agencies. This ensures fair treatment for businesses, regardless of their social or political profile.
Key points
Government agencies, like the General Services Administration, cannot award contracts to banks that refuse to do business with companies based on social policy considerations.
Banks cannot discriminate against companies based on social policy if they want to work with the government.
The act aims to ensure that banks' business decisions are not solely based on social policy when bidding for government contracts.
Introduced
Citizen Poll