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ARTICLE · 12 NOVEMBER 2025

Massachusetts Finalizes Comprehensive Money Transmission Regulations

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On October 24, 2025, the Massachusetts Division of Banks (DOB) finalized a suite of regulatory amendments implementing the Massachusetts Money Transmission Act.

United StatesIntellectual Property
A.J. Dhaliwal
A.J. Dhaliwal
Mehul Madia
Mehul Madia
Maxwell Earp-Thomas
Maxwell Earp-Thomas
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On October 24, 2025, the Massachusetts Division of Banks (DOB) finalized a suite of regulatory amendments implementing the Massachusetts Money Transmission Act. The final regulations, 209 Mass. Code Regs. §§ 44.00, 45.00, 48.00, and 801 Mass. Code Regs. § 4.02, take effect November 7. The changes establish a uniform licensing and compliance regime for all entities engaged in money transmission, replacing prior requirements that applied only to check cashers, check sellers, and foreign transmittal agencies.

The DOB's rulemaking provides application, licensing, recordkeeping, and bonding standards for money transmitters operating in Massachusetts. The rules also requires annual and quarterly call reports, audited financial statements within 90 days of fiscal year-end, and prompt notice to the DOB of ownership changes or other material developments.

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