Bill Explanation in Layman's Terms:
This bill aims to ensure that banks and financial institutions provide fair access to financial services to all individuals and businesses, regardless of their background or the type of business they are involved in. It prohibits banks from denying financial services based on subjective reasons or biases, and requires them to use impartial risk-based standards when making decisions.
The bill also outlines penalties for banks and financial institutions that violate these rules, including civil actions, attorney's fees, and treble damages for the affected individual or business.
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