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Bureau Publishes Revised Money Transmitter Licensing Rule for Comment
October 21, 2024
The Bureau has published agency rule Chapter 709 for comment. This rule repeals and replaces current Chapter 709 to effectuate Maine's adoption of the Maine Money Transmission Modernization Act (Title 32 M.R.S. Chapter 79-A).
This rule requires licensing of all money transmitters operating in the State of Maine through the Nationwide Multistate Licensing System (NMLS). This Chapter establishes periods of licensure validity. It sets application and renewal fees and application requirements for money transmitters and requires applicants for new licenses to apply through NMLS.
A copy of Rule 709 is attached below.
COMMENT DEADLINE: November 18, 2024
For questions regarding Rule 709, please contact:
Linda Conti, Superintendent
Bureau of Consumer Credit Protection
35 State House Station
Augusta, ME 04333-0035
Phone: (207) 624-8527
Fax: (207) 582-7699
Linda.Conti@maine.gov