Regulatory Alerts2017-01-01
Savings Promotions Guidance
The Kansas Office of the State Bank Commissioner issued this guidance to authorize and regulate savings promotion programs for Kansas-chartered banks, savings banks, and savings and loan associations. Institutions must ensure equal winning chances, full disclosure, participant age verification, no required consideration, and comparable account terms while maintaining audit-ready records. Regulators require institutions to submit program rules, compliance documentation, and acknowledgments of examination authority during supervisory reviews, with the guidelines taking effect on July 1, 2017.
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