The Massachusetts Division of Banks issued a regulatory notice reminding entities of the licensing requirements under the new Money Transmission Law.
What changed
Firms that are required to be licensed must have completed their applications by July 1, 2026, or must cease operations.
Compliance perspective
Immediate compliance is necessary to avoid halting business operations in Massachusetts.
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.