The bill amends K.S.A. 2025 Supp. 9-551 to establish the Kansas Financial Institutions Information Security Act, which sets information security standards for covered entities in line with federal regulations. The act applies to various organizations, including credit services organizations, mortgage companies, supervised lenders, financial institutions involved in money transmission, trust companies, and now includes earned wage access service registrants as a new category of covered entities.

Additionally, the bill repeals the existing K.S.A. 2025 Supp. 9-551 and specifies that the act will take effect upon its publication in the Kansas Register. The commissioner is granted the authority to adopt necessary rules and regulations to administer the act effectively.

Statutes affected:
As introduced: 9-551
As Amended by House Committee: 9-551