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OK HB3346
Bill
Status
Passed
4/28/2014
Primary Sponsor
Don Armes
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AI Summary
- Sellers, lessors, and lenders must disclose information required by the Federal Consumer Credit Protection Act (15 U.S.C. Section 601 et seq.) for consumer credit sales, leases, and loans effective July 1, 2014
- Grants the Administrator authority to enforce disclosure provisions of the Federal Consumer Credit Protection Act
- Removes state-level rulemaking requirements for disclosure terms that previously required Administrator rules to match federal regulations and coordinate with other states implementing the Uniform Consumer Credit Code
- Repeals 14A O.S. 2011, Sections 2-302 and 3-302, which contained prior state disclosure requirements
- Declared an emergency measure, taking effect immediately upon passage and approval
Legislative Description
Consumer credit; modifying provisions related to disclosures and the Consumer Credit Protection Act; repealer; effective date; emergency.
Government
Last Action
Approved by Governor 04/25/2014
4/28/2014
Committee Referrals
Business and Commerce3/12/2014
Economic Development and Financial Services2/4/2014
Full Bill Text
No bill text available