If you’ve ever been put in a situation where you’re forced to take out a loan, you may have noticed there’s significant discrimination against persons with certain political, religious, and even societal beliefs.
This has become so ingrained in our banking system that we’ve all accepted it as something normal. Florida Governor Ron DeSantis decided it’s time to put an end to this toxic business strategy that banks employ.
DeSantis tackles outdated social credit score system
DeSantis announced he’ll be pushing legislation that would prevent banks from discriminating against persons based on any of the aforementioned, reinforcing his previous statements about protecting the border and making it easier for Americans to own a firearm legally.
JUST IN: Gov. Ron DeSantis says he and the legislature will look into reevaluating Florida's relationship with the College Board, including standardized testing and colleges accepting AP courses for college credit
— Florida’s Voice (@FLVoiceNews) February 13, 2023
In the announcement, the Florida governor added the bill would also prevent banks from referring to the social credit score system when deciding a person’s worthiness for a loan or grant.
On top of this, it would also prevent banks from holding onto government funds if they’re continuously involved in corporate activism.
In relation to this clause of the bill, both state and local agencies in Florida would no longer be able to use environmental, corporate, and social governance for any of their investment decisions, nor will requesting such information be possible through contract requests.
ESG metrics begone
During the announcement, DeSantis stood before his followers, assuring he was willing to do anything to protect the consumer’s investments, while also allowing them to exercise their right to access financial services in the state of Florida.
🚨BREAKING: Gov. DeSantis announces that Florida will prohibit the financial sector from considering so-called “Social Credit Scores” in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts. 🚨
— DeSantis War Room 🐊 (@DeSantisWarRoom) February 13, 2023
DeSantis then went on to tackle the idea of the social credit system that’s been in place for decades, claiming it to be a metric that serves no one but its creators and the elites who have been abusing it for years.
With the credit score system out of the way, Floridians will gain easier access to financial services and will have a much easier time participating in the state’s, as well as the nation’s economy.
The bill came only days after DeSantis updated the state’s Retirement Systems Pension Plan policy, making it so ESG metrics can no longer decide who’s going to be part of the investment decision-making process and who isn’t.
NOW: Gov. Ron DeSantis announces he wants to stop banks from using "social credit scores" when making banking decisions
DeSantis says it would protect Floridians against discrimination by big banks for political & social beliefs
— Lydia Nusbaum (@LydiaNusbaum) February 13, 2023
Even last month, DeSantis was hinting at these changes, telling several interviewers that he believes American corporations are forcing their agenda through the economy, instead of doing it through the ballot box as it was intended.
The changes essentially mean ESG metrics will no longer be a thing in the state of Florida. As long as DeSantis has a word in it, things will remain that way for the foreseeable future.
However, the credit system did have its upsides, albeit only for the banks, but we can only wait to see how this situation unfolds to truly judge DeSantis’ actions.