CSBS Model Money Transmission Modernization Act
The Money Transmission Modernization Act is a single set of nationwide standards and requirements to modernize the supervision and regulation of money transmitters. Fourteen states have adopted the law in full or in part and 17 are expected to pursue adoption in 2024. The law, created by state regulators and industry experts, was approved for nationwide implementation by the CSBS Board of Directors in August 2021. CSBS will continue to work with states to ensure that adoption and implementation is as uniform as possible, as states may require legislation, regulation or guidance changes to adopt the law’s provisions.
Please refer to the materials below for more information on the MTMA.
2023 MTMA Proposed Legislation & 2022 Enactments
- The Model Money Transmission Modernization Act
- Money Transmitter Model Law FAQs
- Fintech Industry Advisory Panel Recommendations
- Model Money Transmission Act One-Page Fact Sheet
- Legislative Guide
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