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Money Transmission Licensing

Money Transmitter License

Money transmitter licensing is the heaviest lift in financial services: net worth minimums, surety bonds, and detailed business plans, state by state. From payment companies to fintech platforms, we run the full application process across all 50 states.

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Reviewed by Cornerstone Staff28 years of financial services state licensing experienceLast verified August 6, 2026

Money Transmission Licensing

Who needs a money transmitter license, and in how many states?

A business that sends, receives, or holds money on behalf of others, sells payment instruments, or moves customer funds generally needs a money transmitter license, and that includes many payment companies, fintech platforms, and digital asset businesses. Because licensing follows where the customer is located, a money transmitter serving a national market needs a separate license in nearly every state, each with its own application fee, surety bond, and net worth minimum. It is the heaviest lift in financial services licensing: bonds can run from tens of thousands to over a million dollars per state, and nationwide programs frequently pass seven figures in total cost. Most transmitters also register with FinCEN as a money services business.

What Is a Money Transmitter?
A money transmitter is a business that transfers money on behalf of others, receives money for transmission, or sells or issues payment instruments. This includes traditional money transfer services, payment processors, digital wallet providers, and many fintech platforms. For a company-type by company-type breakdown of who typically needs the license, see /who-needs-a-money-transmitter-license.
How Much Does a Money Transmitter License Cost?
Money transmitter licensing is expensive. Application fees range from $500 to $10,000+ per state. Surety bond requirements range from $10,000 in states like Washington and Wyoming to $500,000 in New York, Kentucky, and Michigan, and California sets bonds from $250,000 up to $7 million. Net worth requirements can be $100,000 to $1 million+. Total costs for nationwide licensing can exceed $1 million. See our state-by-state breakdown and cost estimator at /money-transmitter-license-cost.

Money transmitter licensing by the numbers

US jurisdictions require a money transmitter license
51 of 52 US jurisdictions require a money transmitter license Source: state regulator statutes compiled in our state-law index, verified August 2026. Money transmitter license state laws
statutory surety bond range across licensing states
$10,000 to $1,000,000 statutory surety bond range across licensing states Source: state regulator statutes compiled in our state-law index, verified August 2026. Money transmitter license state laws

The Cornerstone track record

Experience and breadth behind every filing

On-time submissions in 2025

99.995%

On-time submissions in 2025

More than two decades of multi-state licensing work in financial services, not a side product.

Faster to licensed

25-30x

Faster to licensed

Applications, renewals, and amendments filed with regulators across the country.

Of the work handled for you

97-98.5%

Of the work handled for you

Licensing, surety bonds, registered agent service, and renewals in every state where you operate.

Money Transmitter Licensing Expertise

Money transmitter licensing is among the most complex and expensive licensing requirements in financial services. Most states require a separate money transmitter license for businesses that send, receive, or hold money on behalf of others. Requirements typically include substantial net worth, surety bonds, and detailed business plans. Cornerstone has extensive experience helping payment companies, fintech firms, and money services businesses obtain and maintain their state licenses.

What Is a Money Transmitter License?

A money transmitter license is a state-issued authorization to receive money or monetary value from one person and transmit it to another, issued by each state's banking or financial services regulator. It is a state license, not a federal one: FinCEN registration as a money services business is a separate federal filing that never substitutes for it. Every state except Montana runs its own licensing regime, so the license is really a portfolio of licenses, one per state where your customers live, each carried on your NMLS record with its own bond, net worth showing, and renewal calendar.

In practice the license is the admission ticket to the US payments market: banks, sponsor programs, and enterprise customers ask for the license list before they sign, and operating without a required license is a felony under 18 U.S.C. 1960 in addition to state penalties.

Issued state by state

Each state's banking or financial services department issues and examines its own license. There is no national money transmitter license, and 49 states plus DC and the territories each set their own requirements.

Held on NMLS

Nearly every state processes money transmitter applications, amendments, and renewals through the Nationwide Multistate Licensing System, so your company record, control persons, and filings live in one system even though each state decides independently.

Distinct from FinCEN MSB registration

The federal MSB registration is a free FinCEN filing with an AML program behind it. The state license is where the bonds, net worth, and months of review live. You need both; see /msb-registration for the federal layer.

What a Money Transmitter License Costs by State

Money transmitter license cost is driven by three moving parts that reset in every state: the application fee, the surety bond, and the minimum net worth the state sets. Because licensing follows where your customers are, a company serving a national market pays these costs many times over, and a full nationwide program frequently passes seven figures once bonds and legal work are included.

The figures below are typical ranges, not quotes. We price your specific footprint state by state, so you see the real cost before you commit to a filing plan.

Application and licensing fees

State application fees commonly run from $500 to $10,000 or more per state, and several states add investigation, fingerprint, and NMLS processing fees on top.

Surety bonds

Bond requirements range from roughly $25,000 to $2 million per state, priced on your financials. Bond premium is an annual cost, not a one-time fee.

Net worth and permissible investments

Minimum net worth requirements range from about $100,000 to more than $1 million depending on the state and your transaction volume, and many states also require you to hold permissible investments against outstanding obligations.

Program and filing work

Budget for the BSA and AML program, the business plan, financial statements, and the ongoing renewal and reporting each license carries after approval.

Money Transmitter License Requirements

Money transmission license requirements vary by state, but the core building blocks repeat almost everywhere. A business that sends, receives, or holds money for others, sells payment instruments, or moves customer funds generally needs a license in each state where its customers live. Most transmitters also register with FinCEN as a money services business at the federal level.

Getting the classification right at the start decides whether you file at all and what each application must show, so we map your model against every state, with an independent licensing attorney confirming it, before any paperwork goes out.

Corporate and control-person disclosures

States review your entity, owners, officers, and control persons, and most require background checks and fingerprints for the people who run the business.

Surety bond and net worth

Nearly every state conditions the license on a surety bond and a minimum net worth, sized to your activity and volume.

BSA and AML program

You need a written anti-money-laundering program, a designated compliance officer, and FinCEN money services business registration before you transmit.

Business plan and financials

Applications ask for a detailed business plan, financial statements, flow-of-funds descriptions, and IT and data security documentation.

Ongoing reporting and renewals

Each license carries call reports, annual renewals, and examinations, so the work continues well after the first approval.

How to Get a Money Transmitter License

You get a money transmitter license by confirming your model is transmission, registering with FinCEN as a money services business, then filing a separate application through NMLS in each state where your customers live, with a surety bond, audited financials meeting that state's net worth minimum, and a written BSA and AML program attached. The generic steps are the easy part. What decides your launch date is sequencing: which states to file first, how to answer deficiency letters, and how to keep forty-plus applications moving at once.

A few reference points from the state figures we track: net worth minimums run from $100,000 in states like Florida, Illinois, and Ohio to $300,000 in Texas and $500,000 in California and New York, bonds run from $10,000 in Washington and Wyoming to $500,000 in New York, Kentucky, and Michigan, and review times run from about 3 months in fast states to 18 or more in New York and California. Our state-by-state hub at /mtl-state-laws carries every jurisdiction's statute, bond, and regulator.

1. Confirm the classification

Map your flow of funds against each state's statute and exemptions before you spend anything on filings, with an independent licensing attorney confirming the conclusion. Start with /who-needs-a-money-transmitter-license if you are not sure the requirement applies.

2. Register with FinCEN and build the AML program

File the MSB registration and stand up the written BSA and AML program with a designated compliance officer. States ask for the program in every application, so it comes before the state work, not after.

3. Prepare the company record in NMLS

Entity documents, control-person disclosures, fingerprints, personal financial statements, and audited company financials. Deficient control-person records are the single most common reason applications stall.

4. Sequence the state campaign

File your home state and your largest customer states first, then batch the rest around each regulator's review queue. Slow states like New York and California go in early precisely because they take the longest.

5. Bond and capitalize per state

Post each state's surety bond and demonstrate its net worth minimum as approvals land. Bond premium is annual and priced on your financials, so the bond program is managed, not set-and-forget.

6. Answer deficiencies and close out approvals

Nearly every application draws at least one deficiency letter. Fast, complete responses are what separate a 6-month approval from an 18-month one; see /money-transmitter-license-timeline for the stage-by-stage schedule.

Money Transmitter License for MSBs

Every money transmitter is a money services business under federal law, but MSB registration and a money transmitter license are two different obligations. FinCEN MSB registration is the federal layer: file Form 107 through BSA E-Filing within 180 days, free, renewed every two years. The money transmitter license is the state layer, and it is where the cost and the waiting live: a separate application, surety bond, and net worth showing in each state where your customers are. Registering as an MSB never substitutes for state licensing, and holding state licenses never removes the FinCEN registration duty. Our full federal guide lives at /msb-registration, the state-by-state figures at /money-transmitter-license-cost, and the stage-by-stage schedule at /money-transmitter-license-timeline.

FinCEN MSB registration

Form 107 within 180 days of establishment, free to file, renewed every two years. See /msb-registration for the mechanics and the AML program that must stand behind it.

State money transmitter licenses

One license per state where customers live, each with its own fee, bond, and net worth minimum. This is the layer that takes months and real capital.

One compliance program

The BSA and AML program, compliance officer, and reporting duties serve both layers, so we build them once and file them everywhere they are required.

Who This Is For

Cornerstone Licensing runs money transmitter licensing for payments companies, fintechs, crypto platforms, and international entrants, from the first flow-of-funds analysis through nationwide coverage. We sequence the state campaign around review queues and your customer map, prepare applications to the standard MT examiners expect, place the bonds as states approve, and run the quarterly reports and renewals afterward. Every application, bond, and filing deadline is managed in Atlas, our compliance platform, for as long as you hold the licenses.

Checklist

Money Transmitter License checklist

01

Business Model Assessment

We analyze your payment flows, business model, and technology to help assess whether money transmitter licensing may apply and which exemptions may be available, with an independent licensing attorney confirming it.

02

Capital & Bond Planning

We help you understand and plan for the significant capital and surety bond requirements, which can reach $500,000 or more per state.

03

Application Filing

We prepare comprehensive applications including detailed business plans, financial projections, filings programs, and IT security documentation.

04

Regulatory Coordination

We manage communications with state regulators, respond to deficiency letters, and coordinate any required in-person meetings.

05

Examination Readiness

We prepare you for pre-licensing examinations where required and ongoing supervisory examinations after licensing.

FAQ

Frequently Asked Questions

Related Pages

Who Needs a Money Transmitter License Money Transmitter License Cost Money Transmitter License Timeline MSB Registration Money Transmitter Licensing Data by State Money Transmitter Compliance Officer FinCEN Compliance Filings for MSBs Verify an MSB Registration Money Transmission Modernization Act Cryptocurrency Licensing Crypto Exchange Licensing Stablecoin Issuer Licensing Custodial Wallet Licensing How To Start A Money Transmitter Business Ways to Run Licensing Compliance Money Transmitter State Laws Missed a Renewal Deadline Cease and Desist for Unlicensed Transmission NMLS Application Deficiencies Surety Bond Lapse Sponsor Bank Risk: Why MSBs Get Their Own Licenses

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Client Outcomes

Mid-market fintech company with 75,000+ clients · Money Transmission

Fintech With 75,000+ Clients Hands Off Nationwide Money Transmitter Licensing

A mid-market US fintech company serving 75,000+ clients needed nationwide money transmitter licenses under new laws and stricter enforcement. Cornerstone secured the licenses, and for over five years has managed the portfolio, annual reports, and filings for new business areas.

75,000+
Clients served by the fintech company
5+ yrs
Ongoing licensing partnership
Nationwide
Money transmitter license coverage
Read the full story

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Money transmitter regulations by state

Money transmitter regulations by state

We are refreshing our state-by-state summaries for money transmitter. Browse the states we have published below.

  • Alabama
    Regulator: Alabama Securities Commission
    License: yes
    Bond: Not less than $100,000, or the average daily outstanding money-received-for-transmission obligations in Alabama plus 50% of average daily outstanding payment-instrument and stored-value obligations in Alabama, whichever is greater; commission may raise to a maximum of $5,000,000
    Open Alabama guide Official regulator site
  • Alaska
    Regulator: Alaska Department of Commerce, Community, and Economic Development, Division of Banking and Securities
    License: yes
    Bond: $25,000 plus $5,000 for each location, not exceeding a total addition of $125,000 (base + additions); department may raise to a maximum of $500,000 based on financial condition
    Open Alaska guide Official regulator site
  • Arizona
    Regulator: Arizona Department of Insurance and Financial Institutions
    License: yes
    Bond: Greater of $25,000 or 100% of the licensee's average daily money transmission liability in Arizona (most recent three-month period), up to a maximum of $500,000; $25,000 if tangible net worth exceeds 10% of total assets
    Open Arizona guide Official regulator site
  • Arkansas
    Regulator: Arkansas Securities Department
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Arkansas (most recent three-month period), up to a maximum of $500,000; $100,000 if tangible net worth exceeds 10% of total assets
    Open Arkansas guide Official regulator site
  • California
    Regulator: California Department of Financial Protection and Innovation (DFPI)
    License: yes
    Bond: $250,000 to $7,000,000 for receiving money for transmission; selling or issuing payment instruments or stored value carries a separate $500,000 to $2,000,000 bond, and the two are cumulative
    Open California guide Official regulator site
  • Colorado
    Regulator: Colorado Department of Regulatory Agencies, Division of Banking
    License: yes
    Bond: Greater of $250,000 or 100% of the licensee's average daily money transmission liability in Colorado (most recent three-month period), up to a maximum of $1,000,000
    Open Colorado guide Official regulator site
  • Connecticut
    Regulator: Connecticut Department of Banking
    License: yes
    Bond: Non-virtual-currency transmitters: not less than $300,000 (avg weekly transmissions < $300,000), $500,000 ($300,000-$500,000), or $1,000,000 (> $500,000); virtual-currency transmitters: amount set by the commissioner
    Open Connecticut guide Official regulator site
  • Delaware
    Regulator: Delaware Office of the State Bank Commissioner
    License: yes
    Bond: $25,000, plus $5,000 for each location in excess of one, not to exceed $250,000 total
    Open Delaware guide Official regulator site
  • District of Columbia
    Regulator: District of Columbia Department of Insurance, Securities and Banking
    License: yes
    Bond: $50,000, increased by $10,000 per additional location, not to exceed $250,000 total
    Open District of Columbia guide Official regulator site
  • Florida
    Regulator: Florida Office of Financial Regulation
    License: yes
    Bond: Amount specified by rule, but not less than $50,000 and not exceeding $2,000,000 (rule allows for financial condition, number of locations, and anticipated volume)
    Open Florida guide Official regulator site
  • Georgia
    Regulator: Georgia Department of Banking and Finance
    License: yes
    Bond: $250,000 minimum; the Department may require additional coverage, capped at $2,000,000
    Open Georgia guide Official regulator site
  • Hawaii
    Regulator: Department of Commerce and Consumer Affairs, Division of Financial Institutions
    License: yes
    Bond: $100,000 for the initial 12 months of licensure; commissioner may increase up to a maximum of $500,000 based on impaired financial condition
    Open Hawaii guide Official regulator site
  • Idaho
    Regulator: Idaho Department of Finance
    License: yes
    Bond: $10,000, increased by $5,000 per additional location/authorized representative, up to a maximum of $500,000
    Open Idaho guide Official regulator site
  • Illinois
    Regulator: Illinois Department of Financial and Professional Regulation, Division of Financial Institutions
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Illinois for the most recently completed quarter, capped at $2,000,000
    Open Illinois guide Official regulator site
  • Indiana
    Regulator: Indiana Department of Financial Institutions
    License: yes
    Bond: Greater of $300,000 or the licensee's average daily money transmission liability in Indiana for the most recent calendar quarter, capped at $500,000
    Open Indiana guide Official regulator site
  • Iowa
    Regulator: Iowa Division of Banking
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Iowa for the most recent 3-month period, capped at $500,000
    Open Iowa guide Official regulator site
  • Kansas
    Regulator: Office of the State Bank Commissioner
    License: yes
    Bond: Greater of $200,000 or 100% of the licensee's average daily money transmission liability in Kansas for the most recent 3-month period, capped at $1,000,000 (or $200,000 if tangible net worth exceeds 10% of total assets)
    Open Kansas guide Official regulator site
  • Kentucky
    Regulator: Kentucky Department of Financial Institutions
    License: yes
    Bond: At least $500,000; commissioner may increase up to a maximum of $5,000,000 based on financial condition, net worth, or transaction volume
    Open Kentucky guide Official regulator site
  • Louisiana
    Regulator: Louisiana Office of Financial Institutions
    License: yes
    Bond: Minimum $100,000, up to a maximum of $500,000, or a higher amount deemed appropriate by the Commissioner up to a maximum of $1,000,000
    Open Louisiana guide Official regulator site
  • Maine
    Regulator: Bureau of Consumer Credit Protection
    License: yes
    Bond: $100,000
    Open Maine guide Official regulator site
  • Maryland
    Regulator: Office of the Commissioner of Financial Regulation
    License: yes
    Bond: Greater of $150,000 or 100% of the applicant's average daily money transmission liability in the State for the most recent quarter, capped at $2,000,000
    Open Maryland guide Official regulator site
  • Massachusetts
    Regulator: Massachusetts Division of Banks
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Massachusetts over the most recently completed three months, capped at $500,000
    Open Massachusetts guide Official regulator site
  • Michigan
    Regulator: Department of Insurance and Financial Services (DIFS)
    License: yes
    Bond: $500,000 for the first location, plus $10,000 for each additional location and authorized delegate, up to a maximum of $1,500,000
    Open Michigan guide Official regulator site
  • Minnesota
    Regulator: Minnesota Department of Commerce
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Minnesota (most recent 3-month period), capped at $500,000
    Open Minnesota guide Official regulator site
  • Mississippi
    Regulator: Mississippi Department of Banking and Consumer Finance
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Mississippi (most recent 3-month period), capped at $500,000 (commissioner may raise up to $1,000,000)
    Open Mississippi guide Official regulator site
  • Missouri
    Regulator: Missouri Division of Finance
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Missouri (most recent 3-month period), capped at $500,000
    Open Missouri guide Official regulator site
  • Montana
    Regulator: Montana Division of Banking
    License: no
    Bond: Not required (no state license needed)
    Open Montana guide Official regulator site
  • Nebraska
    Regulator: Nebraska Department of Banking and Finance
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in Nebraska (most recent 3-month period), capped at $500,000
    Open Nebraska guide Official regulator site
  • Nevada
    Regulator: State of Nevada Department of Business and Industry, Financial Institutions Division
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Nevada (most recently completed quarter), capped at $500,000
    Open Nevada guide Official regulator site
  • New Hampshire
    Regulator: New Hampshire Banking Department
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in New Hampshire (most recent 3-month period), capped at $500,000
    Open New Hampshire guide Official regulator site
  • New Jersey
    Regulator: New Jersey Department of Banking and Insurance
    License: yes
    Bond: Amount set by the Commissioner by regulation, not less than $100,000 and not more than $1,000,000 (money transmitter). Foreign money transmitters use a volume-based schedule starting at $25,000.
    Open New Jersey guide Official regulator site
  • New Mexico
    Regulator: New Mexico Regulation and Licensing Department, Financial Institutions Division
    License: yes
    Bond: Greater of $300,000 or 1% of the licensee's total yearly dollar volume of money transmission business in New Mexico (or projected first-year volume), up to a maximum of $2,000,000
    Open New Mexico guide Official regulator site
  • New York
    Regulator: New York State Department of Financial Services
    License: yes
    Bond: Set by the Superintendent of Financial Services for each licensee; New York Banking Law Article 13-B fixes no dollar amount, so confirm the required bond with DFS before relying on a figure
    Open New York guide Official regulator site
  • North Carolina
    Regulator: North Carolina Office of the Commissioner of Banks
    License: yes
    Bond: $150,000 base (transmission volume in NC up to $1,000,000); increases with NC transmission volume (e.g., $175,000, $200,000, and higher tiers)
    Open North Carolina guide Official regulator site
  • North Dakota
    Regulator: North Dakota Department of Financial Institutions
    License: yes
    Bond: Greater of $100,000 or 100% of the licensee's average daily money transmission liability in North Dakota (most recent 3-month period), capped at $500,000
    Open North Dakota guide Official regulator site
  • Ohio
    Regulator: Ohio Department of Commerce, Division of Financial Institutions
    License: yes
    Bond: Security device (surety bond or permitted alternative) of not less than $300,000, up to a maximum of $2,000,000 as the Superintendent finds appropriate
    Open Ohio guide Official regulator site
  • Oklahoma
    Regulator: Oklahoma State Banking Department
    License: yes
    Bond: $50,000 plus $10,000 per authorized-delegate location, not exceeding a total of $500,000
    Open Oklahoma guide Official regulator site
  • Oregon
    Regulator: Oregon Department of Consumer and Business Services, Division of Financial Regulation
    License: yes
    Bond: $25,000, increased by $5,000 per additional location/authorized delegate (amount otherwise set by rule/Director)
    Open Oregon guide Official regulator site
  • Pennsylvania
    Regulator: Pennsylvania Department of Banking and Securities
    License: yes
    Bond: Bond in the penal sum of $1,000,000 (department may require additional bond based on average daily outstanding transmission balance)
    Open Pennsylvania guide Official regulator site
  • Puerto Rico
    Regulator: Puerto Rico Office of the Commissioner of Financial Institutions (OCIF)
    License: yes
    Bond: $500,000 for a single office, increased by $10,000 per additional office or authorized agent (Commissioner may require a higher bond based on business volume/financial condition)
    Open Puerto Rico guide Official regulator site
  • Rhode Island
    Regulator: Rhode Island Department of Business Regulation, Division of Banking
    License: yes
    Bond: $50,000 (currency transmission licensees); department may accept an alternative security form if a surety bond is not commercially available at reasonable cost
    Open Rhode Island guide Official regulator site
  • South Carolina
    Regulator: South Carolina Attorney General (Commissioner under the South Carolina Uniform Money Services Act)
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in South Carolina (most recent 3 months), capped at $500,000; alternatively $100,000 if tangible net worth exceeds 10% of total assets
    Open South Carolina guide Official regulator site
  • South Dakota
    Regulator: South Dakota Division of Banking
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in South Dakota (most recent 3 months), capped at $500,000; alternatively $100,000 if tangible net worth exceeds 10% of total assets
    Open South Dakota guide Official regulator site
  • Tennessee
    Regulator: Tennessee Department of Financial Institutions
    License: yes
    Bond: Greater of $50,000 or 100% of average daily money transmission liability in Tennessee (most recent calendar quarter), capped at $800,000
    Open Tennessee guide Official regulator site
  • Texas
    Regulator: Texas Department of Banking
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Texas (most recent 3 months), capped at $500,000; alternatively $100,000 if tangible net worth exceeds 10% of total assets
    Open Texas guide Official regulator site
  • Utah
    Regulator: Utah Department of Financial Institutions
    License: yes
    Bond: Flat minimum surety bond of $50,000
    Open Utah guide Official regulator site
  • Vermont
    Regulator: Vermont Department of Financial Regulation
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Vermont (most recent 3 months), capped at $2,000,000
    Open Vermont guide Official regulator site
  • Virginia
    Regulator: Virginia State Corporation Commission, Bureau of Financial Institutions
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Virginia for the most recent quarter, capped at $1,000,000; a flat $100,000 where tangible net worth exceeds 10% of total assets
    Open Virginia guide Official regulator site
  • Washington
    Regulator: Washington State Department of Financial Institutions
    License: yes
    Bond: Surety bond based on prior year's money transmission and payment instrument dollar volume; minimum $10,000, not to exceed $550,000
    Open Washington guide Official regulator site
  • West Virginia
    Regulator: West Virginia Division of Financial Institutions
    License: yes
    Bond: $300,000 for money transmission; $100,000 for check or money-order sale or currency exchange; increased by 1% of annual West Virginia volume over $10 million, capped at $1,000,000
    Open West Virginia guide Official regulator site
  • Wisconsin
    Regulator: Wisconsin Department of Financial Institutions
    License: yes
    Bond: Greater of $100,000 or 100% of average daily money transmission liability in Wisconsin (most recent 3 months), capped at $500,000
    Open Wisconsin guide Official regulator site
  • Wyoming
    Regulator: Wyoming Division of Banking
    License: yes
    Bond: $10,000 or 2.5 times outstanding payment instruments, whichever is greater, not to exceed $500,000
    Open Wyoming guide Official regulator site

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  • Watch NY DFS NY Aug 20, 2026

    Second Amendment to 23 NYCRR 400 Pre-Proposal

    The NYDFS announced a pre-proposal for a second amendment to regulations on independent dispute resolution for emergency services and surprise bills.

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  • Action FinCEN Aug 20, 2026

    Final Rule Ending Beneficial Ownership Reporting Requirements

    FinCEN issued a final rule ending beneficial ownership reporting requirements under the Corporate Transparency Act.

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  • Action FinCEN MN Aug 20, 2026

    Renewal of Minnesota Geographic Targeting Order

    FinCEN renewed the Minnesota Geographic Targeting Order, requiring compliance for money service businesses.

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  • Info CSBS Aug 20, 2026

    Debt Collection Settlement with NewRez LLC

    A multistate settlement was reached with NewRez LLC, resulting in a $15. 5 million settlement for improper force-placed insurance charges.

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  • Action OCC Aug 20, 2026

    OCC Bulletin 2026-38: Accounting Advisory Series Updated

    The OCC updated its Bank Accounting Advisory Series to provide current supervisory and accounting guidance for federal banking oversight.

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