Oklahoma Senate Bill SB351

Oklahoma 2026 Regular Session

• Introduced: 2/3/25
• Refer: 2/4/25
• Report Pass: 2/20/25
• Engrossed: 3/17/25
• Refer: 4/1/25
• Report Pass: 4/24/25

Caption

Credit sales; requiring certain actions from sellers when imposing a surcharge on certain transactions. Effective date.

Impact

The bill, if enacted, would have a significant impact on how financial transactions involving credit and debit cards are handled by sellers in Oklahoma. By allowing sellers to impose a surcharge, the bill shifts some financial burdens from the sellers to the consumers, which could impact purchasing decisions. Furthermore, as it eases the restrictions on how discounts and surcharges are applied in sales, it could lead to variations in pricing strategies across different sellers, possibly benefiting those who maintain lower operational costs.

Summary

Senate Bill 351 aims to amend existing statutes regarding credit sales in Oklahoma, specifically addressing the handling of surcharges on transactions made with credit and debit cards. The bill establishes that sellers may pass on processing fees or impose a surcharge to customers opting to pay with credit cards instead of cash or check. Notably, it outlines that any surcharge must be clearly itemized on the receipt and cannot exceed the total of specified bank and financial transaction fees, which aims to maintain transparency in card transactions. This amendment updates definitions and statutory language to better reflect current financial practices and consumer expectations.

Sentiment

Sentiment around SB351 appears to be mixed among stakeholders. Proponents argue that the bill enhances consumer choice by allowing for different payment options while also enabling sellers to manage their costs more effectively. Conversely, critics express concern that allowing surcharges could lead to consumers being charged more for using credit compared to cash, which may disproportionately affect lower-income individuals who rely more heavily on credit for purchases.

Contention

Key points of contention in the discussion of SB351 revolve around consumer rights and pricing fairness. Some advocates for consumer protection are worried that the allowance of surcharges could create opaque pricing structures where consumers are misled about the actual cost of goods and services. There is a broader debate regarding the potential for manipulation of fees that could ultimately disadvantage consumers, particularly in a state with significant income disparities.