Financial Institutions - Commissioner of Financial Regulation - Money Transmissions
Sponsor: Chair, Economic Matters CommitteeCommittee: Economic MattersSubject: Financial InstitutionsStatus: Second Reading Passed (as of Nov 6, 2020)
What this bill does
Official synopsis
Establishing licensing requirements for certain money transmission locations; requiring an applicant for a license to engage in the business of money transmission to provide the address of each self-service financial kiosk in a certain application and information that satisfies the Commissioner of Financial Regulation that the applicant has created certain policies and procedures; specifying the licensing fee that an applicant for a branch location license is required to pay; etc.
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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (4)
MGA witness listFAV 2FavorableFWA 2Favorable with amendments
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Fleisher, Adam | The Money Services Round Table | Position only |
| FAV | Chair, Economic Matters Committee, Chair, Economic Matters Committee | Individual | Position only |
| FWA | Robinson, Tiffany | Maryland Department of Labor | Oral + Written (PDF) |
| FWA | Salazar, Tony | Maryland Department of Labor | Position only |