Ask Reggi Your Question Now
Can I collect credit card information from participants in Oklahoma? What are the requirements?
Requirements for Collecting Credit Card Information in Oklahoma
Based on the provided context documents, it appears that there are no specific requirements for collecting credit card information from participants in Oklahoma. However, there are general disclosure requirements that must be followed when collecting credit card information.
According to OKAC 160:45-3-1, creditors must make disclosures required by this subchapter clearly and conspicuously in writing, in a form that the consumer may keep. The terms “finance charge” and “annual percentage rate,” when required to be disclosed with a corresponding amount or percentage rate, shall be more conspicuous than any other required disclosure. Certain disclosures required for credit and charge card applications and solicitations must be provided in a tabular format or in a prominent location.
It is recommended that you consult with a legal professional or regulatory agency in Oklahoma to determine if there are any additional requirements for collecting credit card information from participants.
Conclusion
In summary, there are no specific requirements for collecting credit card information from participants in Oklahoma. However, general disclosure requirements must be followed when collecting credit card information. It is recommended that you consult with a legal professional or regulatory agency in Oklahoma to determine if there are any additional requirements.
Source(s):
Jurisdiction
Oklahoma