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Bill > HB2544
OK HB2544
OK HB2544Banks and banking; Oklahoma Fair Access to Financial Services Act; definitions; practices; disclosures; civil actions; misdemeanor; effective date.
summary
Introduced
02/06/2023
02/06/2023
In Committee
02/07/2023
02/07/2023
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2023 Regular Session
Bill Summary
An Act relating to financial services; enacting the Oklahoma Fair Access to Financial Services Act; making legislative findings; defining terms; prohibiting financial institutions from denying services based on impermissible criteria; imposing duty of disclosure upon financial institutions; prescribing content of required disclosure; providing civil cause of action for violations of act; for civil penalties; providing for criminal penalties; providing for enforcement; providing for codification; and providing an effective date.
AI Summary
This bill, the Oklahoma Fair Access to Financial Services Act, prohibits financial institutions from denying financial services to individuals or businesses based on non-financial criteria, such as environmental, social, and governance (ESG) factors, diversity, equity, and inclusion (DEI) policies, or political and ideological factors. It requires financial institutions to disclose the specific standards and criteria they use to determine access or denial of financial services, and to provide this information to customers who are denied services. The bill also establishes civil and criminal penalties for violations, and authorizes the State Banking Department to enforce the act and promulgate any necessary rules.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
(on 01/01/1900)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2544&Session=2400 |
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2544&Session=2300 |
| Fiscal Note/Analysis - House: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB2544%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/hB/HB2544%20INT.PDF |
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