# Missouri SB98: Modifies various provisions relating to financial institutions Missouri SB98, Modifies various provisions relating to financial institutions, is a 2025 Regular Session Senate bill sponsored by Sandy Crawford (Republican); status signed, last action 2025-07-10 (Delivered to Secretary of State (G)); PRIA reads it as touching household money (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/MO-SB98-2025 - As of: 2026-10-17 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Missouri SB98 - State: Missouri - Session: 2025 Regular Session - Title: Modifies various provisions relating to financial institutions - Status: signed - Chamber: Senate - Introduced: 2025-02-27 - Last action: 2025-07-10, Delivered to Secretary of State (G) - Sponsor: Sandy Crawford (Republican) - Cosponsors: 0 - Touches household money: yes - Roll calls: 3 (29 yes, 0 no in all) - Economic provisions PRIA read: 15 ## Summary No summary available. ## Bill overview: provisions PRIA read - Tax breaks for estates and trusts: benefit, high. For tax years beginning January 1, 2026, or later, Missouri estates and trusts get a new income subtraction. It covers income Missouri excludes when treating the estate or trust as a nonresident. Only amounts that do not determine federal distributable net income qualify. Resident estates and trust… - Stronger safeguards for crypto kiosk customers: benefit, medium. Virtual currency kiosks must explain risks and account terms before a customer's first transaction, including the lack of federal deposit protection. They must show fraud warnings before every transaction and provide receipts showing fees, applicable exchange rates, transaction details, and refund… - Clearer financing costs for Missouri businesses: benefit, low. Covered providers must give one standard disclosure by closing, showing funds provided and disbursed, total payments, dollar cost, payment terms, and prepayment costs or discounts. Coverage generally starts above five Missouri business deals yearly; exemptions include deals over $500,000, banks, re… - New criminal penalties for account fraud: benefit, low. The law creates a crime for using fraud or coercion to take or move money controlled by financial institutions or customers. Fraud involving less than $500 is a class B misdemeanor. At $500 or more, felony levels range from class E to class B based on culpability. Those levels distinguish criminal… - Banks can report suspected customer exploitation: benefit, low. Banks and credit unions may report suspected fraud or financial exploitation targeting their customers or members. Reports can go to federal, state, or local law enforcement, or an appropriate public protection agency. Institutions are protected from civil liability for making these reports. Report… - Banks gain more stock issuance options: benefit, low. Missouri bank corporations can authorize additional shares or different stock classes in their formation documents. Issuance must follow state corporate procedures. Terms and procedures must be acceptable to the finance director, with required state notices or approvals. - Payroll agents gain a licensing exemption: benefit, low. Payroll agents are exempt from state money-transfer licensing when a written agreement appoints them to process payments for the payor. The payor must tell employees and other payees that the agent acts on its behalf. If the agent fails to send the money, the payor still owes the payees. - Real-time payments qualify for settlement funds: benefit, low. Qualifying real-time payments, including RTP and FedNow, count as certified funds in covered settlements. The settlement agent must receive written confirmation from a financial institution that collected funds reached the agent's account. Wire transfers count as received when the agent or its bank… - Inactive accounts lose specific statutory protections: cost, low. The law repeals specific requirements for inactive consumer deposit accounts. The former rules required notice about inactivity fees and annual statements after at least 12 months without activity. They allowed a service fee of up to $5 for those statements. The repealed rules also required transfe… - Business financing brokers face registration costs: cost, low. Paid commercial financing brokers must register with Missouri's Division of Finance before doing business. Registration costs $100 initially, with a $50 yearly renewal due by January 31. Brokers must maintain a $10,000 surety bond payable to the state, with liability limited to actual damages. Empl… - Bank reports available directly to customers: mixed, low. Customers can request paper or electronic copies of their bank's or trust company's regular periodic reports filed with state regulators. Banks and trust companies must provide those copies. They no longer have to publish the reports in a newspaper. - Optional account contacts with liability limits: mixed, low. Banks and credit unions may offer programs letting customers name one or more trusted contacts; offering a program is optional. They may contact those people about unresponsive customers, emergencies when customers cannot be located, suspected exploitation, or dormant-account checks. Accounts may i… - Campaign cards allowed with spending safeguards: mixed, low. Committees can use cards in their name with treasurer, deputy treasurer, or candidate approval; credit-card bills must use the official account. Non-in-kind spending over $50 requires a check, authorized electronic payment, or committee credit card. Cash spending is capped at $50 per purchase and t… - Crypto kiosks face licensing and oversight: mixed, low. Virtual currency kiosk operators need money-transmitter licenses; unlicensed operators must apply within 60 days after the section takes effect. Timely applicants can operate during review, but denied applicants must stop until licensed. Operators need approved written compliance policies and quali… - Banks can pool public deposit collateral: mixed, low. Authorized banks can secure uninsured government deposits through one pool of eligible securities instead of separate pledges for each government. The pool must always be worth at least 102% of deposits above federal insurance coverage. A Missouri administrator appointed by the finance director mus… ## Sponsors and cosponsors - Sponsor: Sandy Crawford (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-04-29 | House | Reported Do Pass | pass | 8 | 0 | | | 2025-04-24 | House | Reported Do Pass | pass | 8 | 0 | | | 2025-04-03 | House | Reported Do Pass | pass | 13 | 0 | | ## Actions (24) - 2025-07-10: Delivered to Secretary of State (G) - 2025-07-10: Approved by Governor (G) - 2025-05-30: Delivered to Governor - 2025-05-29: Signed by House Speaker (House) - 2025-05-01: Truly Agreed To and Finally Passed - 2025-04-29: Reported to the Senate with... - House Amendment No. 1, House Amendment No. 2, House Amendment No. 3, House Amendment No. 4, House Amendment No. 5, House Amendment No. 6, House Amendment No. 7, House Amendment No. 8 and House Amendment No. 9 (House) - 2025-04-29: Third Read and Passed with Amendments - House Amendment No. 1, House Amendment No. 2, House Amendment No. 3, House Amendment No. 4, House Amendment No. 5, House Amendment No. 6, House Amendment No. 7, House Amendment No. 8 and House Amendment No. 9 (House) - 2025-04-29: Title of Bill - Agreed To - 2025-04-29: Taken Up for Third Reading (House) - 2025-04-29: Reported Do Pass - AYES: 8 NOES: 0 PRESENT: 0 (House) - 2025-04-29: Voted Do Pass (House) - 2025-04-29: Executive Session Completed (House) - 2025-04-24: Referred: Fiscal Review (House) - 2025-04-24: Reported Do Pass - AYES: 8 NOES: 0 PRESENT: 0 (House) - 2025-04-23: Voted Do Pass (House) - 2025-04-23: Executive Session Completed (House) - 2025-04-10: Referred: Rules - Legislative (House) - 2025-04-03: Reported Do Pass - AYES: 13 NOES: 0 PRESENT: 0 (House) - 2025-04-02: Voted Do Pass (House) - 2025-04-02: Executive Session Completed (House) - 2025-03-26: Public Hearing Completed (House) - 2025-03-19: Referred: Financial Institutions (House) - 2025-02-28: Read Second Time (House) - 2025-02-27: Reported to the House and First Read (House) ## Bill text - Truly Agreed to and Finally Passed, 2025-05-01: [PDF](https://www.senate.mo.gov/25info/pdf-bill/tat/SB98.pdf) - Introduced: [PDF](https://www.senate.mo.gov/25info/pdf-bill/intro/SB98.pdf) - Perfected: [PDF](https://www.senate.mo.gov/25info/pdf-bill/perf/SB98.pdf) - Senate Committee Substitute: [PDF](https://www.senate.mo.gov/25info/pdf-bill/comm/SB98.pdf) ## Related bills - HB3: Appropriates money for the expenses, grants, refunds, and distributions of the Department of Higher Education and Workforce Development (signed) - HB8: Appropriates money for the expenses, grants, refunds, and distributions of the Department of Public Safety and the Department of National Guard (signed) - HB11: Appropriates money for the expenses, grants, refunds, and distributions of the Department of Social Services (signed) - HB10: Appropriates money for the expenses, grants, refunds, and distributions of the Department of Mental Health, the Department of Health and Senior Services, and t… (signed) - SB79: Modifies provisions relating to health care (signed) - SB271: Modifies provisions relating to emergency services (signed) ## Sources - [Truly Agreed to and Finally Passed (PDF)](https://www.senate.mo.gov/25info/pdf-bill/tat/SB98.pdf) - [Introduced (PDF)](https://www.senate.mo.gov/25info/pdf-bill/intro/SB98.pdf) - [Perfected (PDF)](https://www.senate.mo.gov/25info/pdf-bill/perf/SB98.pdf) - [Senate Committee Substitute (PDF)](https://www.senate.mo.gov/25info/pdf-bill/comm/SB98.pdf) ## Related - [HB3: Appropriates money for the expenses, grants, refunds, and distributions of the…](https://policyrisk.com/state-bill/MO-HB3-2025) - [HB8: Appropriates money for the expenses, grants, refunds, and distributions of the…](https://policyrisk.com/state-bill/MO-HB8-2025) - [HB11: Appropriates money for the expenses, grants, refunds, and distributions of the…](https://policyrisk.com/state-bill/MO-HB11-2025) - [HB10: Appropriates money for the expenses, grants, refunds, and distributions of the…](https://policyrisk.com/state-bill/MO-HB10-2025) - [SB79: Modifies provisions relating to health care](https://policyrisk.com/state-bill/MO-SB79-2025) - [SB271: Modifies provisions relating to emergency services](https://policyrisk.com/state-bill/MO-SB271-2025) - [Missouri bills](https://policyrisk.com/states/missouri/bills) - [Missouri state hub](https://policyrisk.com/states/missouri) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/MO-SB98-2025 (as of 2026-10-17).