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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 1254 By: McCall
COMMITTEE SUBSTITUTE
An Act relating to consumer credit; prohibiting
release of certain information rel ated to credit to
third parties without consent; providing for civil
penalty; providing for enforcement of penalty;
providing for codification; and declaring an
emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 3-412 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A. If a person requests a report from a con sumer reporting
agency in connection with a credit transaction involving any
extension of credit, such agency may not, solely on the basis of
such request, furnish a report to a third party unless s uch third
party has the consumer 's consent or has a current relationship,
relating to credit, servicing, or other financial ser vices, with
such consumer.
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B. Any violation of the provisions of subsection A of this
section shall result in a civil penalty of Ten Thousand Dollars
($10,000.00) which shall be paid to the person or persons ad versely
affected by the violation. If the credit application is made
jointly by two persons with respect to a lend ing transaction in
which both persons would be liable for a debt, then the c ivil
penalty shall be paid to each person for a tot al of Twenty Thousand
Dollars ($20,000.00).
C. The Attorney General shall have the dut y to enforce the
provisions of this section.
SECTION 2. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is her eby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage a nd approval.
59-2-10554 LRB 03/04/24