AN ACT relating to debts.

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.

Banks and Financial Institutions Fees State Agencies

Introduced: February 20, 2026

Last action: April 12, 2026

Became Law Without Governor's Signature (Acts Ch. 98)

In effect since July 15, 2026

Acts from the 2026 Regular Session that don't carry an emergency clause or set their own effective date took effect 90 days after the session adjourned (Ky. Constitution § 55).

Read the full text Kentucky Legislature LegiScan

AI-generated — always verify with primary sources

Plain-language summary

Beta

This bill adds a $3 fee to each deferred deposit transaction, which includes short-term loans like payday loans. The fee is collected by the Department of Financial Institutions from licensed businesses that offer these services. The change applies to transactions made on or after the date the law takes effect. Who it may affect: Kentuckians who use payday or short-term deferred deposit loans, and the businesses that provide those services.

Open official bill text (PDF)·Report a problem with the summary