Office of Financial Institutions
Governor to Sign Mortgage Bill into Law

Press Release Date:  Friday, April 25, 2008  
Contact Information:  Kelly May
Public Information Officer
502-573-3390 Ext 252

FRANKFORT, Ky. (April 25, 2008) – On Monday, Gov. Steve Beshear will sign into law House Bill 552, which makes changes in Kentucky’s mortgage industry designed to protect consumers and reduce fraud. Unless stated otherwise in the bill, these changes will take effect immediately. The bill was drafted by the Office of Financial Institutions – which regulates the mortgage industry in Kentucky – in conjunction with legislators, consumer groups and industry representatives. The bill’s sponsor is Rep. Tommy Thompson (D-Owensboro).

WHO:      Gov. Steven L. Beshear
WHAT:     Signing of HB 552
WHEN:     Monday, April 28,  2:40 p.m.
WHERE:    Room 110 of the Capitol

OFI is an agency of the Department of Public Protection in the Environmental and Public Protection Cabinet.  It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. OFI’s mission is to serve the public through effective and efficient regulation that promotes consumer confidence and economic growth.