More than Open-Banking, we need an Open-Minded Regulator. It seems if you are anyone associated in the fintech industry, a day does not go by when you hear the word open-banking. Today, open-banking is akin (IMHO) to the coming of email. Imagine the possibilities they say, and right they are in saying that. But allow […]
Money Services Businesses (MSB) Regulators The US Money Transmitter Licenses are issued by each US State individually. If you are classified as an Money Services Businesses then typically the regulator in the State that is issuing such a license is the Department of Financial Services, Department for Financial Institutions, Department of Banking & Finance, etc. […]
Here is a bit of a surprise. Was searching for some money transmitter licenses for certain companies and I decided to check if Tipalti had a license or not. They don’t show anything in the NMLS, or NY or CA, but surprise! surprise! They have one for Texas!