Regulatory Alerts2020-01-01
CML Guidance 2020-1: Historical Usury Rates for First Mortgage Loans
The Kansas Office of the State Bank Commissioner issued CML Guidance 2020-1 to provide historical usury rate data for first mortgage loans entered into prior to July 1, 2013. The document details the repealed floating cap under K.S.A. 16-207(b) and includes a comprehensive chart of maximum interest rates published by the Secretary of State from January 1993 through June 2013. For loans originated on or after July 1, 2013, the guidance notes that a general usury cap of 15% per annum applies unless otherwise authorized by law.
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