Rating: +1

Bill Summary:

Senate Bill 1027 creates a new chapter of Idaho Code titled the Transparency in Financial Services Act. The bill prohibits financial institutions, payment processors, and card networks operating in Idaho — particularly those with over $100 billion in assets or transaction volume — from using “social credit scores” or subjective criteria to deny, restrict, or terminate services to individuals or businesses.

A “social credit score” is defined broadly to include non-financial factors such as a customer’s religious or political beliefs, refusal to adopt Environmental, Social, and Governance (ESG) benchmarks, or participation in lawful industries like firearms or fossil fuel production. The bill requires institutions to provide written explanations upon request when denying services and authorizes civil penalties and enforcement through Idaho’s Consumer Protection Act. It includes an emergency clause and takes effect July 1, 2025.

Reason for Rating:

S1027 strongly aligns with the Idaho Republican Party Platform’s commitment to religious freedom, political liberty, and individual rights. By protecting Idaho residents from being financially punished for their beliefs or lawful business activities, the bill defends against ideological discrimination and corporate overreach. It ensures that banking and financial access remain based on objective financial criteria, not social or political agendas. The bill also supports conservative industries like energy and firearms and pushes back against ESG frameworks that undermine economic freedom. Its targeted regulation of large financial actors is consistent with the platform’s call for fairness, due process, and freedom from coercive, politicized systems — earning it a positive rating.