HB 2100: Tennessee Prohibits Financial Institutions and Insurers from Discriminating Based on ESG and DEI Factors

July 1, 2024

Summary

HB 2100 was enacted in April 2024 and became effective on July 1, 2024. It prohibits financial institutions and insurers from denying services or otherwise discriminating against a person based on the person's firearm ownership; support of immigration or drug enforcement policies; or failure to meet environmental standards, social governance standards, corporate board composition standards, and diversity, equity, and inclusion (DEI) policies. It amends the state's consumer protection codes, categorizing a violation of HB 2100 as an "unfair trade practice." The law responds to "de-banking"—when a financial institution refuses to issue loans or open accounts based on political or religious disagreements or risks associated with certain industries. 

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