Jessica Sklute

Jan 13, 2025 | mondaq.com | Jessica Sklute |Eric Knight

Massachusetts has passed a bill expanding its money transmitterlaw to include domestic money transmission. While Massachusettshistorically has only regulated entities facilitating moneytransmission to foreign countries, effective September 2025, thelaw will now require any person facilitating domestic moneytransmission for a Massachusetts consumer to maintain a license andcomply with certain substantive requirements.

Oct 12, 2023 | lexology.com | Donald J Mosher |Betty Santangelo |Melissa Goldstein |Kara Kuchar |Adam J. Barazani |Jessica Romano | +3 more

On Oct. 8, 2023,[1] California Governor Gavin Newsom signed AB-1116[2] into law, which amends certain provisions of California’s Money Transmission Act (Cal. Fin. Code §§ 2000, et seq.) (“MTA”) to align with the Model Money Transmission Modernization Act (“Model Law”).[3] The amended MTA will become effective on Jan. 1, 2024.