49 states with differing Money Transmission Laws! How can you manage your obligations?

Published on 31st May 2022

The lack of flexibility multiplied by 49 states leads to complexity in ensuring firms meet their regulatory obligations. Money Transmission Laws (MTLs)  are:

  • rules-based
  • riddled with compliance obligations
  • not uniform
  • typically lack the flexibility to foster financial innovation in an efficient manner

It is a tedious exercise of examining MTLs in the 49 states that have them to determine if their proposed business requires a license, and whether they may rely on statutory or regulatory exemptions.

Despite efforts by state regulators to streamline the applying for and obtaining MTLs in 49 states it remains a daunting endeavour. Understanding this landscape will be critical to any successful, long-term participant.

Q. “With a lack of uniformity, what can firms do to help better assess the regulatory risk of the multiple money-transmission laws?”

Fully digitised, analysed and summarised regulatory data including federal regulation and the all the different money-transmission laws across all 49 states, that have so far created their own legal framework, provided by Corlytics regulatory risk analytics.


Q. “How can we manage and reduce the time spent on wading through the very fragmented money-transmission regulation across the US states?”

To avoid the tedious exercise of examining money-transmission laws in the 49 states, you can use the Corlytics regulation library, a fully digital set of obligations in a single location.


Q. “We really need to be able to see what’s on the horizon with regard to regulatory updates – is there a way to view that?”

Horizon scanning, covering all federal and state money-transmission laws is part of Corlytics regulatory monitoring. Fully digitised and from a singular location, the solution supports operational and legal risk impact assessment.

Q.”We’ve so many technology solutions and products already, is it possible to just have one, visual dashboard where I can see sources and themes relating to payments?”

Whether it’s your mobile device or office computer, Corlytics payment tracker provides themed regulation information at your fingertips