Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
State Bank Commissioner updates mortgage and consumer‑credit regulations after 2024 law changes
Summary
The Office of the State Bank Commissioner presented a package of rule updates implementing 2024 statutory changes to how certain mortgages and consumer-credit transactions are regulated, including aligning covered-transaction definitions, adjusting surety‑bond limits (up to $1M), and clarifying document-retention rules.
Brock Raelert, general counsel for the Office of the State Bank Commissioner, briefed the committee on multiple updates to regulations under the Kansas Mortgage Business Act (KMBA) and the Uniform Consumer Credit Code (UCCC) following enactment of 2024 Senate Bill 406.
Raelert said the agency moved mortgages previously under the UCCC into the KMBA and harmonized parallel regulations. Among the changes: removal of an explicit…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
