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KS HB2591

KS HB2591
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 disbursements. Enacting the virtual currency kiosk consumer protection act, providing definitions, and establishing requirements for virtual currency kiosk operators. Prohibiting the office of the state bank c

summary

Introduced
01/29/2026
In Committee
03/17/2026
Crossed Over
02/24/2026
Passed
04/09/2026
Dead
Signed/Enacted/Adopted
04/09/2026

Introduced Session

2025-2026 Regular Session

Bill Summary

AN ACT concerning financial institutions; relating to the oversight and regulation of such institutions and certain transactions performed by such institutions; 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 disbursements; limiting liability in any civil or criminal action for taking such actions or choosing not to take such actions; enacting the virtual currency kiosk consumer protection act; providing definitions; establishing requirements for virtual currency kiosk operators; relating to certain disclosures, transaction receipts, fraud detection and prevention, live customer service, kiosk location reporting, money transmission licensure and refunds; imposing certain limits on virtual currency kiosk transaction amounts and charges; authorizing the attorney general and any law enforcement agency to investigate reports of fraudulent money transmission and report to the state bank commissioner; prohibiting the office of the state bank commissioner or any other state agency from becoming a receiver for a technology-enabled fiduciary financial institution that becomes insolvent or declares bankruptcy; providing that earned wage access service registrants are subject to the provisions of the Kansas financial institutions information security act; eliminating certain stipulations relating to the payment of negotiable instruments on Saturday afternoons or holidays; amending K.S.A. 2025 Supp. 9-551, 9-555, 9-556, 9-558, 9- 572, 9-589 and 9-2301 and repealing the existing sections; also repealing K.S.A. 52- 717.

AI Summary

This bill authorizes financial institutions to report suspected financial exploitation of an adult account holder to a designated agency, which can be a law enforcement agency or the Kansas Department for Children and Families; it also allows these institutions to notify a "trusted contact," an adult designated by the account holder, about suspected exploitation, and to place a temporary hold on transactions for up to 10 business days if they reasonably believe the transaction could further the exploitation. The bill defines "financial exploitation" as the unlawful or improper use of an adult's property, income, resources, or trust funds for someone else's profit, and it provides immunity from civil or criminal liability for financial institutions acting in good faith and with reasonable cause when reporting, notifying, or placing holds, as well as for choosing not to act without gross negligence. Additionally, the bill enacts the "Virtual Currency Kiosk Consumer Protection Act," establishing requirements for virtual currency kiosk operators, including disclosures about risks, transaction receipts, fraud detection, live customer service, kiosk location reporting, money transmission licensure, and refunds, while also imposing limits on transaction amounts and charges and authorizing the Attorney General and law enforcement to investigate fraudulent money transmission. It also prohibits state agencies from acting as receivers for insolvent technology-enabled fiduciary financial institutions and clarifies that earned wage access service registrants are subject to the Kansas financial institutions information security act, while also making other amendments related to financial institutions and repealing certain existing laws.

Committee Categories

Business and Industry, Labor and Employment

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Financial Institutions and Pensions (House)

Last Action

House Approved by Governor on Thursday, April 9, 2026 (on 04/09/2026)

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Document Type Source Location
State Bill Page https://kslegislature.gov/li/b2025_26/measures/hb2591/
BillText https://kslegislature.gov/li/b2025_26/measures/documents/hb2591_enrolled.pdf
Conference Committee Report https://kslegislature.gov/li/b2025_26/measures/documents/ccr_2026_hb2591_s_4568.pdf
Analysis - Conference Committee Report Brief https://kslegislature.gov/li/b2025_26/measures/documents/ccrb_hb2591_00_20260324am.pdf
BillText https://kslegislature.gov/li/b2025_26/measures/documents/hb2591_02_0000.pdf
Senate Committee on Financial Institutions and Insurance Report https://kslegislature.gov/li/b2025_26/measures/documents/cr_2026_hb2591_s_4347.pdf
Analysis - Supplemental Note: As Amended by Senate Committee https://kslegislature.gov/li/b2025_26/measures/documents/supp_note_hb2591_02_0000.pdf
BillText https://kslegislature.gov/li/b2025_26/measures/documents/hb2591_01_0000.pdf
House Floor Amendment (Committee of the Whole - Motion to Amend - Offered by Representative Caiharr) https://kslegislature.gov/li/b2025_26/measures/documents/fa_2026_hb2591_h_3787.pdf
Analysis - Supplemental Note: {As Amended by House Committee of the Whole} https://kslegislature.gov/li/b2025_26/measures/documents/supp_note_hb2591_01_0000.pdf
Analysis - Supplemental Note: As introduced https://kslegislature.gov/li/b2025_26/measures/documents/supp_note_hb2591_00_0000.pdf
House Committee on Financial Institutions and Pensions Report https://kslegislature.gov/li/b2025_26/measures/documents/cr_2026_hb2591_h_3574.pdf
Fiscal Note - Ficsal Note: As introduced https://kslegislature.gov/li/b2025_26/measures/documents/fisc_note_hb2591_00_0000.pdf
BillText https://kslegislature.gov/li/b2025_26/measures/documents/hb2591_00_0000.pdf
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