Regulatory Alerts2026-03-06
K.A.R. 75-6-38 Record retention requirements for consumer credit and mortgage transactions
The Kansas Office of the State Bank Commissioner amends K.A.R. 75-6-38 to require licensees and consumer credit filers to retain specific transaction records for at least 36 months. The regulation distinguishes retention obligations based on activity type, including origination, servicing, collection, and the purchase of defaulted debt, while removing mortgage provisions transferred to the Kansas Mortgage Bankers Association. This restructuring aims to reduce bureaucratic burden by eliminating the retention of inapplicable records and aligning state requirements with federal Truth in Lending Act standards.
Share