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Senate advances bill to bar denial of credit over political or religious views
Summary
The Texas Senate advanced Senate Bill 946, authored by Senator Hughes, to prohibit denial or limit of credit to organizations for reasons other than objective creditworthiness, drawing sustained debate about scope and unintended consequences.
The Texas Senate on May 8 advanced Senate Bill 946, a measure by Senator Hughes that would bar lenders from denying or limiting credit extensions to organizations based on political, religious or social views rather than impartial credit standards.
Senator Hughes, the bill’s author, said, "S. B. 9 46 would protect organizations from being denied an extension of a loan or a limitation to the credit extended for any reason other than failing to meet impartial, non subjective standards that, of course, are established by the lender." He framed the bill as a response to banks and other financial institutions declining transactions tied to political or religious positions, citing…
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