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Money Transmitter Licensing Rules Anti-Money Laundering

Orrick, Herrington & Sutcliffe LLP

Colorado enacts its Money Transmission Modernization Act

On April 16, the Colorado General Assembly enacted HB 25-1201, which repeals the state’s current Money Transmitters Act and replaces it with the Money Transmission Modernization Act (the “Act”), which is based on the model...more

Orrick, Herrington & Sutcliffe LLP

North Dakota passes law on money transmitter licensure

On March 15, the North Dakota governor signed SB 2119, which revises provisions related to money transmitters. The act, among other things, provides that a “person may not engage in the business of money transmission or...more

BCLP

South Carolina Enacts its First Law Regulating Money Transmission

BCLP on

Last month South Carolina joined 48 other states in regulating money transmission with unanimous passage of House Bill 4554. The bill, enacting the South Carolina Anti-Money Laundering Act, provides the framework for...more

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