social credit; use; prohibition

HB 2650 prohibits Arizona state agencies from requiring banks or financial institutions to use social credit scores when evaluating loan applications. It directly affects Arizona banks and customers seeking loans, ensuring lenders cannot be mandated to consider these scores. The bill’s key provision states the state may not compel financial institutions to factor social credit scores into lending decisions. This is a straightforward policy change preventing state-mandated use of social credit systems in financial approvals. The bill is currently at its first reading in the House (June 27, 2025).