HB 989 strengthens Floridians' protections from banks that may attempt to coerce certain ESG (leftist environmental, social, governance) behaviors by denying services due to certain practices, such as fighting illegal immigration, that do not align with the financial institution's values.

The legislation specifically adds provisions to an existing law, declaring it is "an unsafe and unsound practice for a financial institution" not only to deny or cancel but to "suspend or terminate" its services to a person on the basis of their politics, religion, or other factors that are not "impartial and risk based."

It also provides for a process by which Floridians can submit a complaint to the state's Office of Financial Regulation (OFR) if they "reasonably believ(e)" that a "financial institution has acted in bad faith in taking action restricting access" to their account.

During a press conference before the signing of HB 989, DeSantis explained the impetus behind the new law and its foundational predecessor, citing cases in which Floridians had their banking services terminated for ideological reasons.

"Moms for Liberty, they're very much active in Florida and around the country in education, promoting parents' rights, good curriculum. They had their account frozen by PayPal for no reason," DeSantis said... Subscribe for free to Breaking Christian News here

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