Regulatory Alerts2019-01-01
CML Guidance 2019-1: Advertising Requirements for Kansas Financial Licensees
The Kansas Office of the State Bank Commissioner issued CML Guidance 2019-1 to mandate that mortgage bankers, credit service organizations, and consumer credit licensees include their official name and license number in all solicitations. The guidance prohibits the unauthorized use of terms like 'bank' or 'trust' in advertising and requires licensees to retain records of all advertisements for 36 months. Furthermore, it forbids false or misleading statements regarding loan terms and requires compliance with federal Regulation Z disclosure rules for internet and social media promotions.
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