Oklahoma HB1470 mandates lenders to disclose loan details and fees on the first page of loan documents.
Oklahoma HB1470 amends the Consumer Credit Code to require lenders to disclose specific loan details to debtors. This includes the loan recipient's identity, interest rate, whether it is fixed or variable, and a table of all associated charges and fees. The disclosure must appear on the first page of the loan documents, and the debtor must sign or initial the disclosure to affirm understanding. The bill specifies an effective date for these requirements.
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