TO CREATE THE SECOND AMENDMENT FINANCIAL PRIVACY ACT; AND TO PROHIBIT FINANCIAL INSTITUTIONS FROM USING CERTAIN DISCRIMINATORY PRACTICES.

HB 1509, now Act 452, creates the "Second Amendment Financial Privacy Act" to prohibit financial institutions from discriminating against individuals exercising Second Amendment rights. The law specifically bans institutions from restricting or terminating accounts based on firearm ownership or purchases, but only applies to transactions exceeding $10,000. This directly affects banks, credit unions, and other financial institutions, requiring them to avoid discriminatory practices tied to gun-related activities. The bill's key provision sets a clear monetary threshold ($10,000) for when these protections apply to financial transactions.