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Financial Services Law Insights and Observations

Kansas Office of the State Bank Commissioner issues work from home guidance

State Issues Licensing Covid-19 Kansas State Regulation Mortgages Money Service / Money Transmitters

State Issues

On March 16, the Kansas Office of the State Bank Commissioner (OSBC) issued temporary guidance allowing licensed mortgage companies, mortgage loan originators, supervised loan licensees, credit services organizations, money transmitters, credit notification registrants and their employees to work remotely due to the Covid-19 crisis. Licensed or registered individuals and entities will be allowed to work from their residences or a company designated location--even if the residence or location is not a licensed or registered branch location--providing they have temporary policies, procedures, and a plan for supervision in place. OSBC also set forth best practices for remote work to ensure that security of information is maintained.