KentuckySB 2192026 Regular SessionSenateWALLET

AN ACT relating to debts.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 3 benefits, 0 costs, 1 mixed.

Payday loans: lower fees and real-time checks

The law caps payday loan service fees at $15 per $100 of the check, prorated for smaller amounts. Each transaction must last at least 14 days. A shared, real-time database lets lenders and the state check for open payday loans and block overlaps. These rules apply to transactions entered on or after the effective date of this Act.

Clear, private wage garnishment orders

When your employer gets a wage garnishment, the order must be a single page with your name, last known address details or a note if unknown, the amount owed, the judgment info, creditor contact, and where to send payments, plus any optional alternative method. Sensitive data can go in a separate addendum so it is not public. This helps employers pay the right party and protects your privacy.

Conflicting payday rules void, quick updates

Any administrative rule, including 808 KAR 9:010, that conflicts with this Act’s new payday-lending rules is void. Agencies must fix conflicting rules within 90 days of the effective date. This speeds up use of the new consumer protections.

Stronger ID and check-cashing safeguards

You must show reasonable ID to cash a check, and lenders cannot advertise no-ID cashing. A lender cannot cash a check made to a company or group unless it has written proof the person is allowed to act for that group. Before depositing a cashed check, the lender must endorse it with its business name. These steps help prevent fraud but can limit access for people without ID.

Sponsors & Cosponsors

Sponsor

Jason Howell
Republican • Senate

Cosponsors

Matt Lockett
Republican • House
Michael Sarge Pollock
Republican • House

Roll Call Votes

All Roll Calls

Yes: 157 • No: 11

Senate vote • 3/31/2026

passed

Yes: 32 • No: 6

House vote • 3/26/2026

3rd reading, passed

Yes: 87 • No: 5

Senate vote • 3/10/2026