The National Money Transmitters Association
A Rich Resource for Intelligence on the Money Transfer Industry

Some of today's interesting stories from the Daily News Clippings!

May 26,
2016

Charities could face 'an avalanche' of bank account closures, report warns
[Ongoing Story - See Yesterday's DNC, Opinion, United Kingdom] - May 25, 2016 - Third Sector.Co.Uk - Susannah Birkwood - The warning comes in a report produced for the Financial Conduct Authority about anti-money laundering efforts by banks... Read More...

Money Transmitter Regulatory Developments
[Opinion, Upcoming ETA event to be held on June 02, 2016] - May 25, 2016 - Holli Targan - electronic payments law.com - The controversy swirling around the application of state money transmitter laws to payments companies just won't abate... Read More....

The US Consumer Financial Protection Bureau's Dwolla consent order
[Old consent order] - Mar 02, 2016 - On 2 March 2016, the Consumer Financial Protection Bureau ('CFPB') brought its first ever data security enforcement action against online payment platform Dwolla Inc. The data security 'expectations' communicated ... Read More...

Also See:
Consent Order: In the Matter of: Dwolla, Inc.
Mar 2016 - Consumer Finance.gov

Haider Case - NMTA Members please note: the government's Answer to Counterclaim (May 17, 2016) has been posted to the case folder. Call me for access. -Ed.

Japan regulates virtual currency after Bitcoin scandal
May 26, 2016 - Rappler.Com - Japan has passed a law regulating virtual currency, after the country found itself at the epicenter of a multi-million dollar embezzlement scandal following the spectacular collapse of the Tokyo-based MtGox Bitcoin exchange. ... Read More...

Panama Papers prove bitcoin isn't the problem
May 26, 2016 - It Web.Co.Za - Ivo Vegter - Ever since the advent of bitcoin in 2008, skeptics, critics and, most importantly, financial authorities, have cautioned that online cryptocurrencies, of which bitcoin is the most prominent example, pose serious risks for... Read More...

Cross-border payments experts debate Bitcoin remittances
May 25, 2016 - Ib Times.Co.Uk - Ian Allison - Payments across borders are always touted as an important use case for cryptocurrencies, which can cut through the Gordian Knot of intermediaries, fees and delays. But opinion on the ground varies depending on who ... Read More...
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NMTA White Paper Released 12/15/2015
"How to Bank MSBs and Payments Companies"
   En Español:
   Recomendaciones Para Bancarizar MSBs

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