Financial services; creating the Financial Services Freedom Act. Effective date.

Oklahoma's SB 1107, the Financial Services Freedom Act, prohibits large financial institutions (banks with over $100 billion in assets or payment processors handling similar transaction volumes) from denying or restricting financial services based on a customer's protected religious beliefs, political speech, or other constitutionally safeguarded activities. The bill requires institutions to provide a clear, written explanation if they deny service and authorizes customers to sue for damages or seek court orders if denied service for prohibited reasons. It defines "social credit scores" as evaluations tied to protected activities like religious practice, political expression, or refusal to comply with certain environmental or diversity initiatives beyond legal requirements. The law aims to increase transparency in financial service decisions and prevent discrimination based on constitutionally protected conduct.