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

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, restricting, or terminating services based on a customer's protected religious exercise, political speech, or other First Amendment activities. It requires institutions to provide written explanations for service denials and allows customers to sue for damages or seek court injunctions if denied service for protected reasons like refusing to participate in diversity initiatives or disclosing political contributions. The bill defines "social credit score" broadly to include factors such as religious practices, political views, or refusal to adopt certain environmental or diversity policies beyond legal requirements. It directly affects major banks and payment processors in Oklahoma, aiming to increase transparency and prevent discrimination tied to protected expression.