Regulatory Alerts2019-01-01
CML Guidance 2019-2: Use of Fictitious Names
The Kansas Office of the State Bank Commissioner issued CML Guidance 2019-2 to clarify the proper use of fictitious or trade names in loan contracts and other documents. The guidance recommends that licensees use their full legal name in all transactions with Kansas consumers to avoid confusion, though adding a properly noted fictitious name is acceptable. A licensee may use only a fictitious name provided it is listed on the license and is not intended to cause confusion or deceit to the public.
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