2025 Legislative Successes

The 2025 Missouri legislative session was a huge success for the banking community as all of MBA’s legislative priorities were sent to the governor for approval. No bill opposed by MBA or detrimental to the industry was approved by the Missouri General Assembly.

Senate Bill 98 and House Bill 754, sponsored by Sen. Sandy Crawford, R-Buffalo, and Rep. Phil Oehlerking, R-Ballwin, includes the following banking provisions. Reps. Bill Owen, R-Springfield, and Terry Thompson, R-Lexington, also were instrumental in the passage of this legislation.

blue checkmark Trusted Contact Programs — Fraud Prevention

  • Banks can offer “trusted contact” programs to account holders. A customer’s designated trusted contact may be contacted in the event of suspected fraud, emergency, etc.
  • Banks offering these programs are immune from liability when acting in good faith in the best interests of their customers.

blue checkmark New Fraud Criminal Penalty

  • creates the crime of “financial institution accounts fraud”
  • ensures law enforcement has the tools needed to prosecute fraud, even as new technology and payment methods develop

blue checkmark Single-Bank Pooled Collateral Program

  • authorizes a program to facilitate the aggregation of a bank’s total public deposits to allow the pledging of collateral against the combined amount rather than per account
  • provides a more efficient procedure to secure public deposits that will help banks avoid over pledging and provide greater transparency to public entities

blue checkmark Banking Statute Modernizations

  • increases flexibility for banks regarding the issuance of stock shares and virtual participation in board meetings
  • reduces regulatory burden by eliminating several antiquated or redundant statutes

blue checkmark Other Provisions of Interest to Banks

  • updates to Missouri’s trust laws, including but not limited to:
    • tax parity between resident and nonresident family trusts
    • allowing electronic execution of wills and estate planning documents
    • legitimizing certain estate planning documents that were executed electronically during the COVID-19 state of emergency
  • expands Missouri’s Good Funds Law, which governs acceptable payment methods for real estate transactions, to include real-time payment systems such as FedNow

For More Information

Contact  David Kent or Emily Lewis at MBA at 573-636-8151.