News & Analysis as of

Money Transmitter Banking Sector New Regulations

Orrick, Herrington & Sutcliffe LLP

State bank supervision group releases money transmission guidance

Recently, an association of state bank supervisors issued new guidance to clarify how money transmitters must calculate tangible net worth under the model legislation known as the Money Transmission Modernization Act (MTMA),...more

Ballard Spahr LLP

NY DFS Finalizes Rigorous AML/BSA Regulation

Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has finalized a new regulation setting forth rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and...more

Ballard Spahr LLP

NYDFS AML Proposal Would Require Certification of Compliance

Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has proposed new regulations setting forth minimum standards for anti-money laundering (AML) transaction monitoring and filtering systems. The regulations, proposed December...more

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