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“Regulatory Guide to Money Transmission & Payment Laws in the U.S. (3rd Edition)” is now available as a downloadable eBook from Shipkevich PLLC.
This eBook provides a general overview of the key laws, regulations, and legal precedents concerning the money transmission and payment spaces on both the federal and state levels. The new edition of the eBook contains relevant updates on FinCEN and the Board of Governors of the Federal Reserve System’s newly proposed amendments to the “Recordkeeping Rule” and “Travel Rule” under the BSA, information on the OCC Fintech Charter, the Model Money Transmission Modernization Act (MTMA), litigation and regulatory enforcement action trends in the money transmission space, and current state laws in the cryptocurrency space. Also included within the new edition is an updated appendix of all relevant federal and state money transmission laws.
In this eBook, money transmission and payments industry professionals, attorneys, compliance staff, and executives can find valuable information on:
Money service businesses (MSBs) and the relevant regulatory agencies and laws that affect them, including FinCEN and the USA Patriot Act;
Money transmitters, how different federal and state laws have defined money transmitters, including the BSA and MTMA, registration as a money transmitter, and relevant case law affecting these companies;
Cryptocurrency, the money transmission and state laws regulating cryptocurrency, and issued FinCEN guidance in the cryptocurrency space;
Prepaid access systems, including information on both open and closed-loop systems, the CFPB Prepaid Card rule, the role of FinCEN in prepaid access, and state laws and regulations;
Payment processors, their relevant federal and state legal definitions, and the role of FinCEN and the Telemarketing Sales Rule in monitoring and regulating these entities; and
Current state money transmission laws.