Are you a Money Transmitter? The State of State Money Transmission Laws 2016

02/10/2016 01:00 p.m. - 02:00 p.m. EDT

Financial Services, Financial Technology, Mobile Payments, Financial Institutions + Financial Services, and Banking + Financial Services

Sean RuffObrea O. Poindexter, and Adam J. Fleisher


Money transmission law was a hot topic in 2015, and we anticipate this trend will continue in 2016. As more and more companies offer products and services analogous to those provided by banks, interest in state money transmission licensing—the regulatory regime that enables various types of non-bank entities to receive and transmit customer funds—is growing. Please join us for a discussion that will cover the scope of money transmission regulation, as well as the licensing process, ongoing compliance considerations, and recent developments in state and federal law relating to non-bank funds transmission. Speakers will provide insights and discussion on the following aspects of money transmission through real-world business scenarios, including:

  • Considerations of what types of business models likely require money transmission licensing;
  • The nature and motivations of state and federal regulatory oversight;
  • An overview of the nature of money transmission licensing regimes, including potential penalties for non-compliance and exemptions and exceptions;
  • The nature of the license application and approval process;
  • Life as a money transmitter licensee; and
  • Recent developments in money transmitter laws and regulations.


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