The Money Transmission Modernization Act (MTMA) is a single set of nationwide standards, including net worth (capital), surety bond, and permissible investments (liquidity) requirements, to modernize the supervision and regulation of money transmitters. The law, created by state regulators and industry experts, was approved for state adoption by the CSBS Board of Directors. To date, twenty-six states have enacted the law in full or in part. Money transmitters licensed in at least one state that has already adopted the MTMA collectively account for 99% of reported money transmission activity.

Please refer to the materials below for more information on the MTMA.

Money Transmission Modernization Act
Adoption Status (Updated 10/30/2024)

Current MTMA Introductions & Enactments

• State Pending & Enacted MTMA Legislation

Documents

• The Model Money Transmission Modernization Act 
• Money Transmitter Model Law FAQs
• Fintech Industry Advisory Panel Recommendations
• Model Money Transmission Act One-Page Fact Sheet
• Legislative Guide
• The Money Transmission Modernization Act: A Powerful Story of State and Industry Collaboration