Fall Regulatory Summit

Internal Use Only

Money Transmission Modernization Act • 2024 Legislative Proposals • Industry Support • Opponents – Independent Payroll Processor Association • Adoption/Implementation Resources: https://www.csbs.org/model-money-transmission modernization-act • Implementation Issues • Consistency in Interpretation

• Calculation of Minimum Tangible Net Worth/Call Report Requirements • Letters of Credit as Permissible Investments/Bankruptcy Issues