Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 2102 By: Thompson
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6 AS INTRODUCED
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7 An Act relating to credit card transactions; defining
7 terms; prohibiting certain credit card issuers from
8 fixing or charging certain fees; prohibiting credit
8 card issuers from penalizing certain merchants;
9 requiring certain credit card issuer to disclose
9 certain information on swipe fees; prohibiting
10 certain payment card network from fixing or charging
10 certain fees; prohibiting payment card network from
11 penalizing certain merchant; requiring certain
11 disclosures by payment card networks; authorizing
12 promulgation of rules by the Attorney General;
12 providing certain civil penalties; allowing filing of
13 certain suit by the Attorney General; providing for
13 codification; and providing an effective date.
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16 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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17 SECTION 1. NEW LAW A new section of law to be codified
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18 in the Oklahoma Statutes as Section 2-701 of Title 14A, unless there
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19 is created a duplication in numbering, reads as follows:
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20 As used in this act:
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21 1. "Assessment fee" means a fee paid to the payment card
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22 network for allowing a merchant to use a payment card or other
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23 payment code or device in a credit card transaction;
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1 2. "Cardholder" means the person named on the face of a credit
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2 card to whom or for whose benefit the credit card is issued;
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3 3. "Credit card" means a card or device issued under an
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4 agreement by which the credit card issuer gives to a cardholder the
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5 right to obtain credit from the issuer or another person;
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6 4. "Credit card issuer" means a lender, including a financial
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7 institution or a merchant that receives applications and issues
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8 credit cards to individuals;
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9 5. "Credit card transaction" means a transaction in which a
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10 person uses a credit card or other payment code or device issued or
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11 approved through a payment card network to use a line of credit,
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12 whether authorization is based on a signature, personal
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13 identification number, or other means;
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14 6. "Fee schedule" means any schedule, list, table, chart, or
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15 similar document or agreement that sets forth or fixes the amount or
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16 the formula for determining the amount of fee rates;
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17 7. "Interchange fee" means a fee charged to a merchant for the
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18 purpose of compensating the credit card issuer for the issuer's
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19 involvement in a credit card transaction;
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20 8. "Merchant" means a person who accepts payment for goods or
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21 services through a credit card transaction;
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22 9. "Payment card network" means an entity that directly or
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23 through a licensed member, processor, or agent provides the
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24 proprietary services, infrastructure, and software that:
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1 a. routes information and data to conduct a credit card
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2 transaction authorization, clearance, and settlement,
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3 and
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4 b. the entity uses to accept as a form of payment, a
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5 brand of credit card or other device that may be used
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6 to carry out credit card transactions; and
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7 10. "Swipe fee" means the interchange fee and, if applicable,
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8 the assessment fee.
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9 SECTION 2. NEW LAW A new section of law to be codified
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10 in the Oklahoma Statutes as Section 2-702 of Title 14A, unless there
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11 is created a duplication in numbering, reads as follows:
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12 A. A credit card issuer that, together with any affiliates, has
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13 consolidated worldwide banking and nonbanking assets, including
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14 affiliate assets, other than trust assets under management, of more
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15 than Eighty-five Billion Dollars ($85,000,000,000.00) at any point
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16 during the previous calendar year shall not:
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17 1. Fix or conspire to fix a swipe fee with or on behalf of
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18 another credit card issuer or payment card network;
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19 2. Receive or charge an interchange fee with respect to a
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20 credit card transaction in an amount that is included on or
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21 determined by a fee schedule that:
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22 a. has been fixed, established, or recommended by a
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23 payment card network, or
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1 b. the credit card issuer knows, or reasonably should
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2 know, is being used in the same calendar year by
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3 another credit card issuer to determine the amount of
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4 an interchange fee with respect to a credit card
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5 transaction that such issuer receives or charges;
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6 3. Charge a cardholder or a merchant a fee due to a disputed
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7 credit card transaction unless a finding of fact concludes that the
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8 cardholder or merchant is responsible for the disputed transaction
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9 and the cardholder or merchant is provided written notification of
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10 the finding of fact; or
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11 4. Prohibit or penalize a merchant that offers a cardholder a
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12 discount for using cash, a debit card, or a gift card instead of a
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13 credit card for payment.
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14 B. A credit card issuer shall disclose in a clear and
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15 conspicuous manner on a monthly statement sent to a cardholder that
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16 has been issued a credit card by the credit card issuer the amount
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17 of the swipe fee charged to the cardholder on a credit card
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18 transaction if one or more swipe fees have been charged to the
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19 cardholder on a credit card transaction.
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20 C. A payment card network shall not:
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21 1. Fix or conspire to fix a swipe fee with or on behalf of
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22 another credit card issuer or payment card network;
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23 2. Require a merchant to accept as payment any credit card
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24 issued by the credit card issuer;
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1 3. Charge a cardholder or a merchant a fee due to disputed
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2 credit card transactions unless a finding of fact concludes that the
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3 cardholder or merchant is responsible for the disputed credit card
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4 transaction and the cardholder or merchant is provided written
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5 notification of the finding of fact; or
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6 4. Prohibit or penalize a merchant that offers a cardholder a
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7 discount for using cash, a debit card, or a gift card instead of a
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8 credit card for payment.
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9 D. A payment card network shall disclose not less than forty-
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10 five (45) days after the date of the credit card transaction, in a
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11 clear and conspicuous manner to the merchant or another person who
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12 assists the merchant in processing credit card transactions and who
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13 has been designated by the merchant to receive the disclosures, the
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14 rate and total amount of each swipe fee or other fee charged on each
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15 credit card transaction.
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16 SECTION 3. NEW LAW A new section of law to be codified
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17 in the Oklahoma Statutes as Section 2-703 of Title 14A, unless there
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18 is created a duplication in numbering, reads as follows:
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19 A. The Attorney General may promulgate rules necessary for the
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20 enforcement of this act.
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21 B. The Attorney General may investigate any violation of this
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22 act and may impose fines not to exceed:
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23 1. Three Hundred Thousand Dollars ($300,000.00) for an
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24 individual;
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1 2. Three Million Dollars ($3,000,000.00) for an entity, if the
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2 lesser of the entity's assets or market capitalization is less than
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3 Ten Million Dollars ($10,000,000.00);
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4 3. Twenty Million Dollars ($20,000,000.00) for an entity, if
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5 the lesser of the entity's assets or market capitalization is at
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6 least One Hundred Million Dollars ($100,000,000.00) but less than
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7 Five Hundred Million Dollars ($500,000,000.00); or
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8 4. Thirty Million Dollars ($30,000,000.00) for an entity, if
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9 the lesser of the entity's assets or market capitalization is Five
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10 Hundred Million Dollars ($500,000,000.00) or more.
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11 C. The Attorney General may file an action in a court of
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12 competent jurisdiction against any person in a judicial district in
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13 which any of the named defendants resides, does business, or
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14 maintains its principal place of business on behalf of this state to
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15 enjoin temporarily or permanently any activity or contemplated
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16 activity that violates or threatens to violate this act.
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17 SECTION 4. This act shall become effective November 1, 2026.
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19 60-2-2485 CAD 1/15/2026 12:35:45 PM
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Req. No. 2485 Page 6Every fact on this page links to its source, starting with the official bill record.