1. (1) If a financial institution refuses to provide, restricts, or terminates service to a customer, that customer may request a statement of specific reasons within ninety (90) days after receiving notice of the refusal to provide, restriction of, or termination of service. The customer may request the statement from a customer service representative or designated account representative by phone, United States mail, or email. Unless otherwise prohibited by law, the financial institution shall transmit the statement of specific reasons via United States mail or email within fourteen (14) days of receiving the customer’s request. The statement of specific reasons shall include:

   1. (a) A detailed explanation of the basis for the denial or termination of service, including a description of any of the customer’s speech, religious exercise, business activity with a particular industry, or other conduct that was, in whole or in part, the basis of the financial institution’s denial or termination of service;
   2. (b) A copy of the terms of service agreed to by the customer and the financial institution; and
   3. (c) A citation to the specific provisions of the terms of service upon which the financial institution relied to refuse to provide, restrict, or terminate service.

2. (2) A financial institution shall not:

   1. (a) Discriminate in the provision of financial services to a person; or
   2. (b) Agree, conspire, or coordinate, directly or indirectly, including through any intermediary or third party, with another person, or group of persons, to engage in activity prohibited by this subsection.
3. (3) This section does not prohibit a financial institution declining to provide, restricting, or terminating financial services to a person when there is evidence that the person is engaged in actual or suspected fraud, criminal conduct, or incitement to unlawful actions, or if the person threatens violence or commits violence against a bank, its affiliates, its employees, or other persons or creates obscenity or another form of expression that is not protected by the United States constitution.

[26-3804, added 2025, ch. 164, sec. 1, p. 786.]