OK SB814

Creates the "Oklahoma Second Amendment Financial Privacy Act" to prohibit financial institutions (banks, payment card networks, acquirers, etc.) from disclosing customers' protected financial information related to firearms and ammunition purchases identified through firearms-specific merchant category codes, and prohibits government entities from accessing such information without a valid warrant, customer written consent, or subpoena with customer notification.

Prohibits financial institutions from using firearms merchant category codes to engage in discriminatory conduct, including declining lawful payment card transactions, refusing to do business with customers or merchants, charging higher fees, or taking any action intended to suppress lawful firearms or ammunition commerce.

Responds to the September 2022 decision by major payment card networks to assign a unique merchant category code to firearms retailers, which the Legislature finds enables unprecedented surveillance of Second Amendment activity and information sharing between financial institutions and government.

Establishes a private right of civil action with statutory damages of $10,000 per violation for negligent or reckless conduct, $25,000 per intentional violation of disclosure rules, and $30,000 for discriminatory conduct violations (or actual damages, whichever is greater), plus mandatory attorney fees for prevailing plaintiffs and potential injunctive relief.

Effective date of November 1, 2023, with the new provisions codified in Title 14A of the Oklahoma Statutes.