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OK HB1470

Bill

Official Source

Status

Introduced

2/3/2025

Primary Sponsor

Meloyde Blancett

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Lenders must disclose to borrowers the interest rate, whether the rate is fixed or variable, and a table of all other charges and fees associated with the loan

  • Required disclosures must appear on the first page of loan documents

  • Borrowers must sign or initial the disclosure to affirm they have read and understood all charges, fees, and interest related to the loan

  • Creates new Section 3-314 of Title 14A (Consumer Credit Code) in Oklahoma Statutes

  • Effective date: November 1, 2025

Legislative Description

Consumer Credit Code; loan disclosure; effective date.

Last Action

Referred to Banking, Financial Services and Pensions

2/4/2025

Committee Referrals

Banking, Financial Services and Pensions2/4/2025
Government Oversight2/4/2025

Full Bill Text

No bill text available