Maryland amended its Money Transmission Act to exclude certain payroll processing agents from the definition of a money transmitter effective October 1, 2026.
What changed
This change allows qualifying payroll processors not to require a Maryland money transmitter license.
Compliance perspective
Formerly licensed firms should assess their status and may opt to surrender their licenses if they qualify for the exemption.
Key date
Effective date: October 1, 2026.
Need help keeping up with these changes?
Tell us where you operate and what licenses you hold; we'll handle the filings and renewals so changes like this do not catch you off guard.