Financial Institutions – Commissioner of Financial Regulation – Money Transmissions
Sponsor: Chair, Finance CommitteeCommittee: FinanceSubject: Financial InstitutionsStatus: Approved by the Governor - Chapter 100 (as of Dec 1, 2021)
What this bill does
Official synopsis
Establishing licensing requirements for certain money transmission locations; altering certain net worth requirements for certain applicants for a license to engage in money transmission; requiring an applicant for a license to engage in money transmission to provide the address of each self-service financial kiosk in a certain application; specifying a $500 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 (5)
MGA witness listFAV 5Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Fulginiti, Andrew | Maryland Department of Labor | Written (PDF) |
| FAV | Salazar, Commissioner, Antonio "Tony" | Maryland Department of Labor | Oral |
| FAV | Salazar, Antonio | Office of the Commissioner of Financial Regulation | Oral |
| FAV | Chair, Finance Committee, Chair, Finance Committee | Individual | Oral |
| FAV | Cunningham, Joseph | Individual | Written (PDF) |