Oklahoma Bankers Association We make bankers better!
Oklahoma S.B. 2067 becomes effective on Nov. 1, 2026 and establishes a framework for financial institutions to intervene when they suspect a “protected adult” is being targeted for financial exploitation and fraud.
It mandates reporting while providing legal immunity to the institutions and their employees for acting in good faith to protect vulnerable customers.
The OBA’s Scott Thompson has prepared a summary of the legislation. To read the full final version of the bill, visit https://www.oklegislature.gov/cf_pdf/2025-26%20ENR/SB/SB2067%20ENR.PDF.
Before Nov 1, bankers will need to review their bank processes for change. How will your employees and supervisory staff react to suspected fraud or exploitation; what information will the bank use to determine reasoning for placing a temporary hold up to 10 business days on incoming or outgoing funds; what internal processes need to be set up for the mandatory reporting requirement; developing and promoting a “Trusted Contact” form, etc. This bill also amends the Oklahoma Financial Privacy Act to allow financial institutions to disclose (without a subpoena/search warrant) relevant financial records to investigating agencies without violating privacy laws (including OK DHS Adult Protective Services).