OK SB371

Creates new Section 751A requiring Oklahoma courts to interpret the Oklahoma Consumer Protection Act guided by Federal Trade Commission policies and Section 45(a)(1) of the Federal Trade Commission Act.

Adds exemption to Section 754 excluding claims seeking damages for conduct resulting in bodily injury, death, or property damage from Consumer Protection Act coverage.

Defines actual damages in Section 761.1 as consumer's out-of-pocket loss measured by difference between amount paid and actual market value of goods or services received.

Requires consumers to prove reasonable reliance on the alleged deceptive practice and that damages were proximately caused by such practice to recover damages.

Changes court authority regarding bad faith claims from mandatory ("shall") to discretionary ("may") when ordering nonprevailing parties to reimburse up to $10,000.00 in costs and attorney fees.