California Passes Bill, Adding New Money Transmitter Requirements – Regulatory Oversight πŸ’₯πŸ‘©πŸ‘©πŸ’₯

On October 4, California passed a bill requiring a money transmitter to display a toll-free telephone number on its website through which a customer may contact the licensee for customer service issues and receive live customer assistance. The telephone number must be operative at least 10 hours per day, Monday through Friday, excluding federal holidays. Moreover, receipts issued to customers must contain the telephone number, where the customer may contact the licensee.

The law will take effect on July 1, 2022.

California Passes Bill, Adding New Money Transmitter Requirements – Regulatory Oversight

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