SB 1094 threatens financial freedom, economic stability, and affordable lending
PHOENIX, AZ – Arizona families and businesses face potentially higher costs and greater financial risks after Senate Bill 1094 cleared the Arizona House of Representatives today. This controversial legislation, which passed the Senate in February, now awaits Governor Katie Hobbs’ decision to sign or veto.
Deceptively framed as a protection against financial “discrimination,” SB 1094 actually forces financial institutions to disregard critical risk factors in their investment and lending decisions. By prohibiting standard industry practices that incorporate responsible investing criteria, the bill creates artificial blind spots that could destabilize Arizona’s financial landscape.
“This legislation represents a dangerous step backwards for Arizona—pushed by lawmakers prioritizing political games over the economic wellbeing of their constituents,” said UAF spokesperson Kyle Herrig. “By mandating that financial institutions ignore relevant risk factors, SB 1094 undermines sound financial practices, ultimately harming Arizona families and businesses through higher costs and riskier lending. Governor Hobbs must reject this reckless attempt to limit Arizonans’ financial freedom.”
Unlocking America’s Future (UAF) urges Governor Hobbs to protect Arizona’s economic interests by vetoing SB 1094. The organization emphasizes that responsible investment practices promote sustainable economic growth and protect consumers, while this bill would only serve narrow special interests at the expense of Arizona families, workers, and small businesses.Read more about SB 1094 and other anti-responsible investing bills in the AZ legislature here.
