Consumer Credit Regulation: Okla. Stat. tit. 59, § 3150 to 3150.27 (Small Lenders Act) (applicable to loans made on or after August 1, 2020).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Banks, savings institutions, trust companies, building and loan associations, industrial loan associations, and credit unions are ineligible for licensure. § 3150.2(C).
Licensure requirements and implications of licensure: All persons engaged in the business of making small loans as defined by this Act must be licensed. § 3150.2.