On April 4, 2025, the California Department of Financial Protection and Innovation (DFPI) issued proposed regulations to implement certain aspects of the state’s Digital Financial Assets Law (DFAL), which establishes a...more
Many have been left wondering whether there will be material changes by the Trump administration to the recently released proposed and final rules, policy statements and requests for public comments on various initiatives by...more
With the passage of H.B. 4840 (the Act), the Commonwealth of Massachusetts becomes the 49th state to regulate domestic money transmission and repeals the existing money transmission law, which solely regulated foreign...more
On April 4, 2024, the State of Wisconsin enacted S.B. 668 (the Act), repealing the state’s existing Seller of Checks Act, which solely regulated money transmitters with a physical presence in Wisconsin, and replacing the...more
On December 13, 2023, the State of New York enacted Assembly Bill No. 2672 (Act), which modifies New York’s ban on credit card surcharges. The revised law takes effect on February 11, 2024....more
While all states except Montana currently require licensure at the state level for entities seeking to act as a money transmitter, generally defined as an intermediary receiving money or monetary value for transmission to...more
The Consumer Financial Protection Bureau (CFPB) is seeking comment on a proposed rule under which the CFPB would require non-bank covered entities that are subject to certain public agency and court orders to register with...more