Mississippi Guaranteeing Fair Banking Act; enact.

SB 2139, the Mississippi Guaranteeing Fair Banking Act, would require large financial institutions (banks with over $10 billion in assets or payment processors handling over $10 billion in annual transactions) to provide customers with specific written reasons for adverse actions - such as loan denials or account closures - within 30 days of a request made within 90 days of the action. The bill prohibits discrimination in banking based on protected activities like religion, free speech, lawful economic activity, or related factors, and mandates that institutions explain if such criteria influenced their decision. Violations would be treated as unfair or deceptive practices under existing law, enabling customers to seek legal remedies, including potential recovery of attorney fees if a lawsuit was filed without merit.