KNS BANK Money Transmission Act
On Sep. 4, KNS BANK reported law changes for money transmission.
- KNS BANK published snapshot of 2024-2025 law changes for money transmission.
- Reported on passage of Bill HB 2560 to amend the Kansas money transmission act.
- Follows KNS LEG Apr. 2024 governor approval of bill to amend the Act, see #207844.
- Effectiveness
- Bill HB 2560 to amend Kansas money transmission act is effective as of Jan. 1, 2025.
- Dec. 2024 KNS BANK Effectiveness
- On Dec. 12, 2024, KNS BANK issued an effective date reminder for the Act (HB 2560).
- Kansas Money Transmission Act (KMTA) will become effective as of Jan. 1, 2025.
- Money transmission services in Kansas must comply with KMTA provisions as of Jan. 1.
| Regulators |
KNS BANK
|
| Entity Types |
Bank; CNSM; MSB |
| Reference |
PR, 12/12/2024; PR, 9/4/2024; |
| Functions |
Compliance; Financial; Legal; Operations; Product Administration; Record Retention; Registration/Licensing; Reporting |
| Countries |
United States of America |
| Category |
|
| State |
|
| Products |
Banking; Loan |
| Regions |
Am |
| Rule Type |
Final |
| Rule Date |
9/4/2024 |
| Effective Date |
1/1/2025 |
| Rule Id |
225118 |
| Linked to |
Rule :207844
|
| Reg. Last Update |
12/12/2024 |
| Report Section |
US Banking |
Last substantive update on 12/17/2024
