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Authorizing financial institutions to report suspected financial exploitation of an adult account holder to a designated agency, notify any adult designated as a trusted contact by such account holder of suspected financial exploitation and place a temporary hold on certain transactions or…
HB2591 authorizes financial institutions to report suspected financial exploitation, regulate virtual currency kiosks, address insolvency of technology-enabled fiduciary financial institutions, and eliminate certain stipulations on negotiable instruments.
If you operate a virtual currency kiosk, you must comply with new consumer protection requirements by [date] or face penalties.
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What This Means
HB2591 empowers financial institutions to report suspected financial exploitation of adult account holders, notify trusted contacts, and place temporary holds on transactions. It establishes the Virtual Currency Kiosk Consumer Protection Act.
Key Provisions
- Authorization for financial institutions to report suspected financial exploitation, notify trusted contacts, and place temporary holds on transactions.
- Enactment of the Virtual Currency Kiosk Consumer Protection Act.
- Prohibition on state agencies becoming receivers for insolvent technology-enabled fiduciary financial institutions.
- Inclusion of earned wage access service registrants under the Kansas Financial Institutions Information Security Act.
- Elimination of certain stipulations relating to the payment of negotiable instruments on Saturday afternoons or holidays.
Latest Legislative Action
House Approved by Governor on Thursday, April 9, 2026
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