Kentucky legislation · 2026 Regular Session
Kentucky HB656: AN ACT relating to deferred deposit transaction fees imposed by the commissioner.
Status: In committee, February 25, 2026
Amend KRS 286.9-140 to require the commissioner of the Department of Financial Institutions to impose a $3 fee per deferred deposit transaction for data required to be submitted by a deferred deposit service business licensee; direct that the Act applies to deferred deposit transactions entered or or after the effective date of the Act.
What the bill says
An act relating to deferred deposit transaction fees imposed by the commissioner.
From the introduced text:
AN ACT relating to deferred deposit transaction fees imposed by the commissioner. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Section 1. KRS 286.9-140 is amended to read as follows: (1) (a) A common database with real-time access through an internet connection for deferred deposit service business licensees implemented in accordance with this subtitle shall be accessible to the department and a deferred deposit service business licensee to verify whether any deferred deposit transactions are outstanding for a particular person. (b) A deferred deposit service business licensee shall accurately and promptly submit such data into the database as may be required by the commissioner before entering into each deferred deposit transaction in such format as the commissioner may require by administrative regulation or order, including the customer's name, Social Security number or employment authorization alien number, address, driver's license number, amount of the transaction, date of transaction, date that the completed transaction is closed, and any additional information required by the commissioner. (c) The commissioner may promulgate administrative regulations in accordance with KRS Chapter 13A to administer and enforce the provisions of this subtitle and to assure that the database is used by deferred deposit service business licensees in accordance with this subtitle. (2) The commissioner shall impose a fee of[not to exceed] three dollars ($3) …
Sponsors
- Michael Pollock (R, HD-051) · primary sponsor
Latest actions
- : to Banking & Insurance (H)
- : to Committee on Committees (H)
- : introduced in House
Subjects: State Agencies, Fees, Banks And Financial Institutions
Common questions
- What is HB656?
- HB656 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to deferred deposit transaction fees imposed by the commissioner.
- What does HB656 do?
- In its own words: An act relating to deferred deposit transaction fees imposed by the commissioner.
- What is the status of HB656?
- In committee as of February 25, 2026. Latest action: to Banking & Insurance (H) (February 25, 2026).
- Who sponsored HB656?
- Michael Pollock (R, HD-051).
- Where is the official record for HB656?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/hb656.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.