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Minutes for SB284 - Committee on Financial Institutions and Insurance
Short Title
Amending the Kansas money transmitter act.
Minutes Content for Tue, Jan 23, 2018
Chairperson Longbine opened the hearing on SB284. Eileen Ma, Assistant Revisor of Statutes, reviewed the bill changes for the members.
Brock Roehler, Staff Attorney, OSBC, testified in support of the bill, which updates the Kansas Money Transmitter Act (KMTA). SB284 enables the Bank Commissioner to align staff and responsibilities to administer the KMTA in the most efficient and effective manner possible. Another provision allows the Bank Commissioner to enter into informal agreements with companies or others to resolve violations under the KMTA, rules, regulations, or an order issued previously under this act. (Attachment 3)
Mr. Roehler answered a couple of questions from Senator Rogers.
There being no further discussion or questions, and no other proponent, opponent, or neutral testimony submitted, Chairperson Longbine closed the hearing on SB284.
The Chairperson recapped the rest of the week's activities: no meeting tomorrow (Wednesday 1-24-18); working three bills on Thursday 1-25-18, and also having a presentation from Alan Conroy on KPERS.
The meeting adjourned at 10:00 am. The next scheduled meeting is Thursday, January 25, 2018 at 9:30 am.
