Bill

Bill > SCR142


NJ SCR142

Urges Congress and President to prohibit private financial institutions from penalizing individuals for exercise of free speech.


summary

Introduced
03/30/2023
In Committee
03/30/2023
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This resolution urges Congress and the President of the United States to enact legislation prohibiting private financial institutions from penalizing individuals for expression of constitutionally protected speech. A recent policy update notice from PayPal, Inc. indicated that its services could not be used, starting November 3, 2022, to promote misinformation, an infraction to be defined solely by PayPal, Inc. and to result in a fine of $2,500. Under the policy, PayPal, Inc. would have also been able to penalize users who would have violated other restrictions on expression, including on content that, in the sole discretion of PayPal, Inc., is unfit for publication. Public outrage led to the company retracting this change, but consumers remain vulnerable to the decisions of private financial institutions to implement similar policies going forward. Wide dependence upon financial institutions in daily life renders their ability to implement broad policies penalizing certain expressions inequitable. This resolution urges Congress and the President to enact legislation to protect consumers from such restrictions under federal law, which has the potential to more broadly protect consumers than state law alone.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee (on 03/30/2023)

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