Stinson's FinTech Attorneys Analyze Impact of MMTMA in Law360 Article

08.15.2023

Stinson LLP Partner Heidi Wicker and attorney Audrey Carroll authored an article for Law360, "State Lawmakers Are Buying Into Money Transmission Law."

The attorneys expand upon their recent Modernization of Money Transmission Laws client alert and provide additional takeaways for financial institutions as more states implement money transmission laws.

They also highlight the "appreciable impact" the Model Money Transmission Modernization Act (MMTMA) has had on their clients' ability to streamline compliance operations. "Given that multiple states are adopting modernized provisions with respect to the key requirements for both obtaining and maintaining money transmission licenses, this impact bears monitoring and is expected to increase as additional states' legislatures are either still considering or will shortly consider MMTMA-related legislation," the authors write.

Wicker focuses her practice on banking, payments law, FinTech and financial regulatory matters, and has represented clients in each segment of the industry for nearly two decades. Her immense depth of industry knowledge provides invaluable insight to companies concerning legal issues related to developing new products and services, regulatory licensing and compliance matters and structuring agreements with financial institutions, third parties, or FinTech companies.

Carroll focuses her practice on guiding clients through complex matters in the areas of financial services, payments systems and virtual currency. She assists financial institutions and FinTech companies, including money transmitters, prepaid card issuers and online marketplace providers, in addressing regulatory and contractual matters.

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