(1) As used in this section:
(a) "Financial institution" means the same as that term is defined in Section 7-1-103.
(b) "Social credit score" means the same as that term is defined in Section 63G-29-101.
(2) The division shall:
(a) establish and operate a system to receive consumer reports regarding a financial institution's or company's use or creation of a social credit score; and
(b) before November 1 of each year, submit a written report to the Business and Labor Interim Committee that summarizes the reports received during the immediately preceding year that indicate a financial institution or company used a social credit score to discriminate against, advocate for, or cause adverse or preferential treatment of a person.
(3) The division may:
(a) make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to establish and operate the system described in Subsection (2); and
(b) as appropriate, refer a consumer who provides a report through the system described in Subsection (2) to the Department of Financial Institutions or another agency for investigation of the report or other action.