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Bill > HB3507
OK HB3507
OK HB3507Consumer credit; discounts; cash; check; charges; credit card; debit card; effective date.
summary
Introduced
02/05/2024
02/05/2024
In Committee
02/20/2024
02/20/2024
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act relating to consumer credit; amending 14A O.S. 2021, Section 2-211, which relates to discounts inducing payment by cash, check or similar means; permitting certain charges; amending 14A O.S. 2021, Section 2-417, which relates to surcharges for use of credit or debit card; permitting certain charges; and providing an effective date.
AI Summary
This bill amends two sections of Oklahoma's consumer credit laws. Firstly, it allows sellers to offer discounts to customers who pay by cash, check, or similar means rather than using a credit or debit card, as long as the discount is offered to all customers. Sellers are also permitted to pass on the processing fees associated with credit/debit card transactions. Secondly, the bill allows certain entities, such as private schools and municipalities, to charge service fees on credit/debit card transactions to offset processing and other related costs. The changes made by this bill will take effect on November 1, 2024.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
CR; Do Pass, amended by committee substitute Banking, Financial Services and Pensions Committee (on 02/20/2024)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Consumer Finance and Credit, including Credit Cards
Official Document
bill text
bill summary
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bill summary
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bill summary
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