Establishes the "Credit Fairness and Financial Opportunity Act"

HB 3187, the "Credit Fairness and Financial Opportunity Act," prohibits lenders from denying personal loans (like credit cards, auto loans, or installment loans) solely based on a numerical credit score. Instead, lenders must conduct an individualized review of factors showing repayment capacity - such as verified income, debt-to-income ratio, payment history, and extenuating circumstances like medical hardship - before denying an application. Consumers denied a loan gain the right to request a written explanation, submit additional repayment evidence, and seek reconsideration. The law empowers the state Division of Finance to enforce these rules and impose civil penalties of up to $1,000 per violation for noncompliance. It takes effect on January 1, 2027.