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Money Transmitter Nonbank Firms

Goodwin

NY Attorney General Announces $250,000 Settlement with Money Transfer Provider

Goodwin on

On June 16, 2025, the New York Attorney General announced it had entered into a stipulated final judgment to settle its suit against ​a non-bank money transfer provider over alleged violations of federal and state consumer...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: A Debate About The Need, If Any, For a Federal Charter for Non-Banks Engaged in the...

Ballard Spahr LLP on

Our podcast show today features Professor Dan Awrey of Cornell Law School, and Matt Lambert, Deputy General Counsel of the Conference of State Bank Supervisors (“CSBS”) who discuss the pros and cons of Congress enacting a...more

DLA Piper

CFPB Issues New Rule Addressing Supervision of Nonbank Payment Providers

DLA Piper on

The Consumer Financial Protection Bureau (CFPB) has issued a new rule addressing its supervision of large nonbank companies offering US consumers certain digital funds transfer services and payment wallets and apps....more

Jones Day

Japan's Amended Payment Services Act Could Prompt More Nonbank Entries Into Traditional Banking Services

Jones Day on

The Situation: The amendment to the Payment Services Act ("PSA") of Japan took effect in May 2021, removing the current numerical transfer cap placed on fund transfer services by nonbank institutions. The Result: This...more

Ballard Spahr LLP

Treasury’s fintech report recommends changes directed at payments

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A portion of the Treasury’s report entitled “A Financial System That Creates Economic Opportunities, Nonbank Financials, Fintech, and Innovation,” focuses on payments.  ...more

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