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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE BILL 3020 By: Lepak
AS INTRODUCED
An Act relating to financial institutions; defining
terms; requiring employees of financial institutions
to notify the financial institution of suspected
financial exploitation of a protected adult;
directing the financial institution to notify proper
agency; permitting financial institution to notify
trusted contact of suspected financial exploitation
of a protected adult; authorizing temporary holds;
requiring financial institution provide notice of
temporary hold; providing timeline for temporary
hold; exempting notice to trusted contact if contact
is suspected for financial exploitation of the
protected adult; providing immunity for financial
institution and employees for compliance with
section; requiring retention of certain records;
permitting access to certain records upon
certification by an agency that an investigation into
financial exploitation of a protected adult is being
undertaken by the agency; authorizing certain
statement containing financial information during
specific timeframe; requiring other requests comply
with the Financial Privacy Act; amending 6 O.S. 2021,
Section 2205, which relates to the Financial Privacy
Act; expanding act to permit disclosure or release of
information for investigations of financial
exploitation of protected adults; providing for
codification; and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 3401 of Title 6, unless there is
created a duplication in numbering, reads as follows:
A. As used in this section:
1. "Account" means any account of a financial institution for
which a protected adult has the authority to transact business;
2. "Agency" means one or more of the following:
a. the Oklahoma Department of Human Services,
b. the office of the district attorney in the county in
which the suspected exploitation occurred, or
c. any state or federal law enforcement agency with
jurisdiction over the area in which the suspected
exploitation occurred;
3. "Financial exploitation" means:
a. the wrongful or unauthorized taking, withholding,
appropriation, or use of money, assets, or property of
a protected adult, or
b. any act or omission taken by a person, including
through the use of a power of attorney, guardianship,
conservatorship, or any other authority, regarding a
protected adult, to:
(1) obtain control, though the use of intimidation,
undue influence, coercion, harassment, duress,
deception, false representation or false
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pretense, over the protected adult's money,
assets or property, or
(2) convert or divert money, assets, or property of
the protected adult to deprive the protected
adult of the ownership, use, benefit, or
possession of the money, assets, or property;
4. "Financial Institution" has the same meaning as defined in
subsection (a) of Section 2202 of Title 6 of the Oklahoma Statutes.
5. "Protected adult" means:
a. an individual 62 years of age or older, or
b. an incapacitated person or a vulnerable adult as such
terms are defined in the Protective Services for
Vulnerable Adults Act; and
6. "Trusted contact" means any adult person designated by a
customer of a financial institution that the financial institution
may contact in the event of an emergency or loss of contact with the
customer, or in the event of suspected third-party fraud or
financial exploitation targeting the customer.
B. As required by the Protective Services for Vulnerable Adults
Act, if an employee of a financial institution reasonably believes
that financial exploitation of a protected adult in this state has
occurred, is occurring, has been attempted, is being attempted, or
will be attempted, the employee shall notify the financial
institution of the suspected financial exploitation and the
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financial institution shall promptly notify one or more of the
proper agencies.
C. If a financial institution believes that financial
exploitation relating to a protected adult has occurred, is
occurring, has been attempted, is being attempted, or will be
attempted, in or from this state, the financial institution may
notify the trusted contact, or in the absence of such designation,
any other third party that the financial institution reasonably
believes is associated with the protected adult.
D. 1. A financial institution transacting business in or from
this state with a protected adult may place a temporary hold on a
transaction with or a disbursement of funds from an account of such
protected adult or an account on which such protected adult is a
beneficiary if:
a. the financial institution believes that financial
exploitation of a protected adult has occurred, is
occurring, has been attempted, is being attempted, or
will be attempted; and
b. the financial institution:
(1) immediately, but in no event more than three (3)
business days after the date the temporary hold
is first placed, provides oral or written
notification, which may be electronic, of the
temporary hold and the reason to all parties
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authorized to transact business with the account
and to any trusted contact; and
(2) immediately initiates an internal review of the
suspected or attempted financial exploitation of
the protected adult, as necessary.
2. Any temporary hold of a transaction or disbursement of
funds as authorized by this subsection will expire upon the earlier
of:
a. a determination by the financial institution that the
transaction or disbursement of funds will not result
in financial exploitation of the protected adult, or
b. not later than ten (10) business days after the date
on which the financial institution first placed the
temporary hold on the transaction or disbursement of
funds, unless the financial institution's internal
review of the facts and circumstances supports its
reasonable belief that financial exploitation of the
protected adult has occurred, is occurring, has been
attempted, or will be attempted, or the financial
institution receives a request for an extension by one
or more of the agencies, in which case the financial
institution may extend the temporary hold to not later
than twenty (20) business days after the date the
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financial institution first placed the temporary hold
on the transaction or disbursement of the funds, or
c. at any time, an agency or a court of competent
jurisdiction may terminate or extend a temporary hold
authorized by this subsection.
3. Nothing in this subsection shall require a financial
institution to place a temporary hold on any transaction with or a
disbursement of funds from an account of a protected adult or an
account on which such protected adult is a beneficiary.
E. Notwithstanding subsections C and D of this section, a
notification permitted or required by this section shall not be made
to any person the financial institution reasonably believes has
engaged, is engaging, or will engage, in suspected or attempted
financial exploitation of the protected adult.
F. 1. A financial institution, or any employee thereof, who
makes a notification or report under subsection B of this section,
makes a notification or report to a third party under subsection C
of this section, provides records to any of the agencies pursuant to
subsection G of this section, or testifies or otherwise participates
in a judicial proceeding arising from such notification, report or
provision of records, shall be immune from any civil or criminal
liability arising from the notification, report, provision of
records, testimony, or participation in the judicial proceeding,
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unless the employee or financial institution acted in bad faith or
with a malicious purpose.
2. A financial institution that places, releases, or does not
place a hold on any transaction pursuant to subsection D shall be
immune from any civil or criminal liability, as well as any
disciplinary action from the Oklahoma State Banking Department, from
that action or failure to act, unless the financial institution
acted in bad faith or with a malicious purpose.
G. A financial institution shall retain and, to the extent
permitted by state and federal law, may provide access to or copies
of records that are relevant to the suspected or attempted financial
exploitation of a protected adult to any agency upon the written
certification of the agency that an investigation into the financial
exploitation of a protected adult is being undertaken by the agency.
Upon such certification, the agency may request a bank, credit
union, or savings association to furnish, and a bank, credit union,
or savings association may furnish, a statement setting forth the
following information with respect to a customer account specified
by the requesting party for a period of ninety (90) days before and
up to sixty (60) days following the date of occurrence of the
alleged illegal act involving the account:
1. The number of items dishonored;
2. The number of items paid that created overdrafts;
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3. The dollar volume of the dishonored items and items paid
which created overdrafts and a statement explaining any credit
arrangement between the bank, credit union, or savings association
and customer to pay overdrafts;
4. The dates and amounts of deposits and debits and the account
balance;
5. A copy of the signature card, including the signature and
any addresses appearing on a customer's signature card;
6. New bank cards issued;
7. Change of address requests received;
8. Power of attorney or trust documents submitted or executed;
9. The date the account opened and, if applicable, the date the
account closed;
10. Surveillance photographs and video recordings of persons
accessing the victim's financial account via an automated teller
machine (ATM) or from within the financial institution for dates on
which illegal acts involving the account were alleged to have
occurred. This paragraph shall not:
a. require a financial institution to produce a
photograph or video recording if it does not possess
the photograph or video recording, or
b. affect any existing civil immunities under state law.
11. A bank, credit union, or savings association that provides
the requesting party with copies of one or more complete account
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statements prepared in the regular course of business shall be
deemed to be in compliance with paragraphs 1 through 4 of this
subsection.
Any other request for information from an agency must comply
with the Financial Privacy Act or any superseding statutes thereto.
Nothing in this subsection shall require the financial institution
to provide records under this subsection or prohibit the financial
institution from requiring the agencies to comply with the Financial
Privacy Act.
SECTION 2. AMENDATORY 6 O.S. 2021, Section 2205, is
amended to read as follows:
Section 2205. A. Nothing in the Financial Privacy Act shall
prohibit the disclosure or release of any financial record or
information to any supervisory agency in the exercise of its
supervisory or regulatory functions with respect to a financial
institution.
B. Nothing in the Financial Privacy Act prohibits a financial
institution from disclosing or releasing any financial record or
information to another financial institution for the usual and
regular business purposes of the latter or from providing copies of
any financial record to any court or government authority as an
incident to perfecting a security interest, proving a claim in
bankruptcy or otherwise collecting on a debt either owed the
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financial institution itself or owed the financial institution in
its role as a fiduciary.
C. Nothing in the Financial Privacy Act prohibits a financial
institution from notifying a government authority that such
institution or an officer, employee or agent of such institution has
information that may be relevant to a possible violation of any
statute or regulation.
D. Sections 2201 through 2204 of this title shall not apply to
any court order or subpoena issued in connection with proceedings
before a multicounty grand jury, except that a court shall have
authority to order a financial institution, on which a multicounty
grand jury subpoena for customer records has been served, not to
notify the customer of the existence of the subpoena or information
that has been furnished to the multicounty grand jury. The court
may order that the customer not be notified only if it finds:
1. That the requested records are relevant to an ongoing
criminal investigation being conducted by the multicounty grand
jury; and
2. That disclosure of the existence or issuance of, or
compliance with the subpoena may frustrate or impede the
investigation.
E. Nothing in the Financial Privacy Act shall prohibit the
disclosure or release of any financial record or information as
required by Section 1 of this act.
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SECTION 3. This act shall become effective November 1, 2026.
60-2-14610 AQH 12/17/25