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OK SB791

Bill

Status

Introduced

2/3/2025

Primary Sponsor

Shane Jett

Click for details

Origin

Senate

2025 Regular Session

AI Summary

  • Banks, credit unions, and financial institutions in Oklahoma are prohibited from providing financial account or transaction details of individuals, businesses, or trusts to federal agents or agencies upon request

  • Financial institutions must notify account owners or managers within 2 business days of any federal request for their information, including the date/time of request and identity of the requesting agent

  • First offense for providing personal information to federal agents carries a $10,000 fine; second offense results in loss of license to operate in Oklahoma

  • Exceptions apply for requests accompanied by a warrant, court order, or clearly articulated written probable cause

  • Declared an emergency measure, taking effect immediately upon passage and approval

Legislative Description

Banks and trusts companies; prohibiting certain institutions from providing certain information to certain agents; establishing penalties. Effective date. Emergency.

Last Action

Coauthored by Senator McIntosh

2/17/2025

Committee Referrals

Business and Insurance2/4/2025

Full Bill Text

No bill text available