Financial institutions; Oklahoma Money Transmission Modernization Act; Banking Commissioner; Oklahoma State Banking Board; licenses; felony; repealer; effective date.
Summary
This Oklahoma bill modernizes the state's money transmission licensing requirements and regulatory framework under the Oklahoma State Banking Board and Banking Commissioner. The legislation updates rules governing financial institutions that transmit money, establishing new licensing standards and compliance requirements for this industry. The bill also includes criminal penalties for violations and repeals outdated provisions related to money transmission regulation.
Sponsor
Last action
Reported Do Pass, amended by committee substitute Business and Insurance committee; CR filed
Apr 23, 2026
Topics
Co-sponsors (1)
Legislative history
Reported Do Pass, amended by committee substitute Business and Insurance committee; CR filed
Withdrawn from Rules committee
Referred to Business and Insurance
Second Reading referred to Rules
Engrossed, signed, to Senate
First Reading
General Order
Authored by Senator Reinhardt (principal Senate author)
Amended by floor substitute
Third Reading, Measure passed: Ayes: 79 Nays: 16
Referred for engrossment
CR; Do Pass, amended by committee substitute Judiciary and Public Safety Oversight Committee
Policy recommendation to the Judiciary and Public Safety Oversight committee; Do Pass, amended by committee substitute Public Safety
Second Reading referred to Judiciary and Public Safety Oversight
Referred to Public Safety
First Reading
Authored by Representative Marti