Money Service Business Advisory

gunnercooke represents money service businesses that are start-ups creating first-view payment solutions, as well as the growing group of licensees operating under traditional money transmitter regimens.

Summary

Money service businesses historically include money transmitters, check sellers and stored-value companies. Ongoing evolutions are continuing in this field, from telecommunications carriers that offer pay-to-mobile to e-vouchers based on proprietary web payment solutions. Like traditional depository financial institutions, money service businesses face corporate organization, federal and state registration and licensing, consumer compliance and escheat issues.

We work with issuers who operate from banking charters, with banks that book MSBs as clients and with the program administrators that manage stored-value programs. Our engagements cover licensing, compliance and supervisory or administrative disputes.

Related Practice Area

Blockchain, Digital Assets and Cryptocurrencies