{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-508c","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-508C","heading":"Electronic payment processing convenience fee","body":"A. In addition to the loan finance charges permitted by\n\nSections 3-508A and 3-508B of Title 14A of the Oklahoma Statutes, a\n\nlender may contract for and receive a convenience fee from any\n\nborrower making his or her payment by debit card, electronic funds\n\ntransfer, electronic check or other electronic means in order to\n\noffset the costs incurred by a lender for accepting and processing\n\npayments by electronic means.\n\nB. Any convenience fee imposed and collected by a lender\n\npursuant to this section shall not exceed the actual cost or four\n\npercent (4%) of the electronic payment transaction, whichever is\n\nless.\n\nC. Any lender charging a convenience fee pursuant to this\n\nsection shall notify the customer of the amount of the fee prior to\n\ncompleting an electronic payment transaction, and shall provide the\n\ncustomer an opportunity to cancel the transaction without incurring\n\na fee. A lender shall make available the option to make payments on\n\na loan by check, cash or money order directly to the lender without\n\nthe imposition of a convenience fee or by various types of\n\nelectronic payment transactions with any convenience fee fully\n\ndisclosed either in the loan contract or at the time of the\n\ntransaction.\n\nD. When a borrower elects to make a payment to the lender by\n\ndebit card, electronic funds transfer, electronic check or other\n\nelectronic means and a convenience fee is imposed and collected\n\npursuant to this section, the payment of the convenience fee shall\n\nnot be refundable.\n\nE. For purposes of this section, \"actual costs\" means actual\n\nthird-party costs incurred for the processing of payments made by\n\nelectronic means. If the lender is a subsidiary of an entity that\n\nprocesses payments made by electronic means, the parent entity shall\n\nbe considered a third party.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f7bcbac2a546e2d1ba10287a866ee154a51685e1dac9e72343071d3e3e50051c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-508b","next":"us-ok/okla.-stat.-tit.-14a-14a-3-509"},"notice":"GroundRules: Original legal text. Not legal advice."}