Montana legislation · 2025 Regular Session
Montana SB240: Revise laws related to equality in financial services
Status: Failed, May 23, 2025
What the bill says
A bill for an act providing definitions; applying the act to certain financial institutions; requiring that certain financial institutions shall provide a person with reasons for the refusal to provide financial services; providing penalties; and providing an effective date.".
From the engrossed text:
A BILL FOR AN ACT PROVIDING DEFINITIONS; APPLYING THE ACT TO CERTAIN FINANCIAL INSTITUTIONS; REQUIRING THAT CERTAIN FINANCIAL INSTITUTIONS SHALL PROVIDE A PERSON WITH REASONS FOR THE REFUSAL TO PROVIDE FINANCIAL SERVICES; PROVIDING PENALTIES; AND PROVIDING AN EFFECTIVE DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Short title. For the purposes of this part, [sections 1 through 3] may be referred to as the "Equality in Financial Services Act". NEW SECTION. Section 2. Definitions. (1) As used in [sections 1 through 3], the following definitions apply: (a) "Discriminate in the provision of financial services" means utilizing a social credit score to directly or indirectly decline to provide full and equal enjoyment in the provision of financial services, including refusing to provide, terminating, or restricting financial services. (b) "Financial institution" (ii) a payment processor, credit card company, credit card network, payment network, payment service provider, or payment gateway that has processed more than $100 billion in transactions in the last calendar year; or (iii) a financial institution that includes any affiliate or subsidiary company, even if that company is also a financial institution. (c) "Financial service" means any financial product or service offered by a financial institution. - 1 - Authorized Print Version - SB **** 69th Legislature 2025 SB 240.1 (d) "Person" …
Sponsors
- Mandeville, Forrest (R, 28) · primary sponsor
Latest actions
- : (S) Died in Process
- : (S) Missed Deadline for General Bill Transmittal
- : (S) Motion
- : (S) Tabled in Committee
- : (S) Hearing
- : (S) Referred to Committee
- : (S) 1st Reading
- : (S) Introduced
- : (LC) Draft Delivered to Requester
- : (LC) Draft Ready for Delivery
Subjects: Consumer Protection, Credit Transactions, Financial Institutions
Common questions
- What is SB240?
- SB240 is a bill in the Montana Legislature (2025 Regular Session): Revise laws related to equality in financial services.
- What does SB240 do?
- In its own words: A bill for an act providing definitions; applying the act to certain financial institutions; requiring that certain financial institutions shall provide a person with reasons for the refusal to provide financial services; providing penalties; and providing an effective date.".
- What is the status of SB240?
- Failed as of May 23, 2025. Latest action: (S) Died in Process (May 23, 2025).
- Who sponsored SB240?
- Mandeville, Forrest (R, 28).
- Where is the official record for SB240?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0588
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.