Bill > HB1260

This bill modifies Oklahoma's consumer credit laws to clarify rules about discounts and fees related to credit and debit card transactions. Specifically, the bill allows sellers in consumer credit sales transactions to pass on credit or debit card processing fees and impose surcharges when customers choose to use cards instead of cash or check, which was previously prohibited. The bill requires that any such fees or surcharges must be clearly listed as a separate line item on the customer's receipt, ensuring transparency. The bill applies to various types of sellers, including private educational institutions, private schools, municipalities, and public trusts, and provides some flexibility for these entities to charge service fees to offset transaction-related costs such as processing fees, financial transaction fees, secure transaction costs, and bandwidth expenses. The changes aim to provide sellers with more flexibility in managing the costs associated with different payment methods while protecting consumers by requiring clear disclosure of any additional charges. The bill will become effective on November 1, 2025.

Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1260&Session=2600