The Money Transmission Modernization Act (MTMA) is a single set of nationwide standards and requirements to modernize the supervision and regulation of money transmitters. To date, twenty-five states have adopted the law in full or in part. In 2024, 19 states have introduced MTMA-related legislation (see State Pending & Enacted MTMA Legislation below). The law, created by state regulators and industry experts, was approved for nationwide implementation by the CSBS Board of Directors in August 2021. CSBS will continue to work with states to ensure that adoption and implementation is as uniform as possible, as states may require legislation, regulation or guidance changes to adopt the law’s provisions. 

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

Money Transmission Modernization Act
Adoption Status (Updated 7/16/2024)

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