Payments News


State Regulators Roll Out One Company, One Exam for Nationwide Payments Firms

“Money transmitters operating in 40 or more states will benefit from streamlined state supervision in 2021. The Conference of State Bank Supervisors (CSBS) announced today the launch of a state-initiated program whereby nationwide payments firms will undergo a single comprehensive exam to satisfy all state regulatory requirements. Known as MSB Networked Supervision, the initiative will apply to 78 of the nation’s largest payments and cryptocurrency companies that combined move more than $1 trillion a year in customer funds.”