EGCR’s Fun Legal Fact of the Week is here to help you get through the work week by sharing a random fact about a state law, regulation, and more!
In the state of Oklahoma, the state interest rate cannot exceed 6%. However, if a contract states (i.e. in the fine print) otherwise, the interest can be more than 6%. Additionally there are other exceptions such as pawnshops, small loans, and retail installment plans that can avoid this interest regulation.