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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
SENATE BILL 824 By: Jett
AS INTRODUCED
An Act relating to financial institutions; defining
terms; prohibiting disclosure of certain financial
information; prohibiting access of c ertain financial
information; providing exceptions; providing for
disclosure of financial information; providing
requirements for disclosure of information in the
event of a subpoena; prohibiting use of certain code
to engage in discriminatory conduct; aut horizing
civil action for violations of act; providing for
recoverable damages; requiring the award of attorney
fees upon court finding; providing for codification;
and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OK LAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 6 -601 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
As used in this act:
1. “Assign” or “assignment” means a financial institution ’s
policy, process, or practice that label s, links, or otherwise
associates a firearms code with a merchant or payment card
transaction in a manner that allows the financial institution or any
other entity facilitating o r processing the payment card transaction
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to identify whether a merchant is a firearms retailer or whether a
transaction involves the sale of firearms or ammunition;
2. “Customer” means any person who presents a payment card to a
merchant for the purchase of goods or services;
3. “Customer’s protected financial information ” refers to
protected financial information appearing in the financial records
of a customer;
4. “Disclosure” means the transfer, publication, or
distribution of protected financial inf ormation to another person
for any purpose other than to process or facilitate a payment card
transaction;
5. “Financial institution ” means an entity other than a
merchant involved in facilitating or processing a payment card
transaction, including , but not limited to, a bank, acquirer,
gateway, payment card network, or payment car d issuer;
6. “Financial record” means a financial record held by a
financial institution related to a payment card transaction that the
financial institution has processed or fa cilitated;
7. “Firearms retailer” means any person engaged in the lawful
business of selling or trading firearms or ammunition to be used in
firearms;
8. “Firearms code” means any code or other indicator a
financial institution assigns to a merchant or t o a payment card
transaction that identifies whether a merchant is a firearms
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retailer or whether the payment card transaction involves the
purchase of a firearm or ammunition. The term shall include , but is
not limited to, a merchant category code assign ed to a retailer by a
payment card network or other financial institution;
9. “Government entity” means any state agency or political
subdivision or agency thereof located in this state;
10. “Merchant” means a person or entity that accepts payment
cards from customers for the purchase of goods or services. The
term shall include a firearms retailer that accepts payment cards
for the lawful purchase of firearms or ammunition;
11. “Payment card” means a credit card, charge card, debit
card, or any other c ard that is issued to an authorized card user
and that allows the user to purchase goods or services from a
merchant; and
12. “Protected financial information ” means any record of a
sale, purchase, return, or refund involving a payment card that is
retrieved, characterized, generated, labeled, sorted, or grouped
based on the assignment of a firearms code.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 6 -602 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A financial institution shall be prohibited from disclosing a
customer’s protected financial information and a government entity
is prohibited from accessing or obtaining the information unless:
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1. Otherwise required by law and the protected financial
information is not singled ou t, segregated, or disclosed based on
the assignment of a firearms code;
2. Disclosure is made pursuant to a valid warrant issued in a
criminal investigation, stating the grounds or probable cause for
its issuance;
3. The customer has provided written authorization for
disclosure, as provided in Section 3 of this act; or
4. Disclosure is made pursuant to a subpoena or to a grand jury
subpoena.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Sectio n 6-603 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A. A financial institution may disclose a customer ’s protected
financial information if the customer provides the financial
institution with written authorization for the disclosure. The
written authorization described by this section shall contain the
following:
1. A statement that the customer consents to the disclosure of
the protected financial information for a specific period;
2. A statement that the custom er has the right to refuse to
consent to disclosure;
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3. A statement that the customer understands his or her right
to revoke the consent at any time before the protected financi al
information is disclosed;
4. A description of the financial records authorized to be
disclosed;
5. The purpose for which disclosure of the protected financial
information is authorized; and
6. The customer’s signature.
B. The written authorization d escribed in this section shall
not be required as a condition of doing busines s or transacting with
any financial institution.
C. The written authorization required by this section shall be
executed distinctly and separately from other agreements or
instruments entered into between the customer and financial
institution.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 6 -604 of Title 14A, unless there
is created a duplication in numbering, r eads as follows:
If a subpoena issued by a government entity requires disclosu re
of a customer’s protected financial information, a financial
institution shall only disclose the information if the subpoena
meets the following requirements:
1. The subpoena shall state that protected financial
information is being sought; and
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2. A copy of the subpoena shall be served to the customer
according to the procedure provided in Section 3 of this act and the
subpoena shall contain a certification that the service w as
executed.
SECTION 5. NEW LAW A new section of law t o be codified
in the Oklahoma Statutes as Section 6 -605 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A financial institution shall not use a firearms code to engage
in the following discriminatory conduct:
1. Declining a lawful payment card transaction based on the
assignment of a firearms code to the merchant or transaction;
2. Limiting or declining to do business with a customer,
potential customer, or merchant based on the assignment of a
firearms code to previous lawful transactions involving the
customer, potential customer, or merchant;
3. Charging a higher transaction or interchange fee to a
merchant or for a lawful transaction, as c ompared to the fee charged
to a similarly situated merchant or for a similar transaction, based
on the assignment of a firearms code; or
4. Taking any action against a customer or merchant that is
intended to suppress lawful commerce involving firearms or
ammunition.
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SECTION 6. NEW LAW A new section of law t o be codified
in the Oklahoma Statutes as Section 6 -606 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A. A customer may bring a civil actio n for damages against any
financial institution or government entity that causes the
customer’s protected financial information to be disclosed in
violation of this act. For each violation, the individual may
recover:
1. Against any person who negligentl y or recklessly violates
this act, damages of Ten Thousand Dollars ($10,000.00 ) or actual
damages, whichever is greater; and
2. Against any person who intentionally violates this act,
damages of Twenty-five Thousand Dollars ($25,000.00) or actual
damages, whichever is greater.
B. A customer or merchant aggrieved by a violation of Section 5
of this act may bring a civil action for damages. The person may
recover damages of Thirty Thousand Dollars ($30,000.00) or actual
damages, whichever is greater.
C. If a court finds that a violation of this act has occurred
as the result of a c ivil action filed pursuant to subsection A or B
of this section, the court shall award reasonable attorney fees to
the aggrieved party. A court may order other relief, including an
injunction, as the court considers appropriate.
SECTION 7. This act shall become effective November 1, 2025.
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60-1-458 QD 1/16/2025 12:48:20 AM