Massachusetts Division of Banks · MA
July 31, 2026 Regulatory Notice: Reminder of Money Transmitter Licensing Requirements Under M.G.L. c. 169B
July 31, 2026
Summary
The Massachusetts Division of Banks issued a regulatory notice reminding entities that engaging in money transmission activities without a license violates M.G.L. c. 169B. Mortgage lenders and brokers that transfer or wire funds on behalf of borrowers must hold a valid Massachusetts money transmitter license and comply with associated record-keeping, reporting, and bonding requirements. This is a compliance reminder, not a new rule.
AI-generated summary · Aug 29, 2026. Verify with your compliance counsel before acting.
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Division of Banks
Division of Banks
The Division of Banks (DOB) is the chartering authority and primary regulator for financial service providers in Massachusetts. DOB's primary mission is to ensure a sound, competitive, and accessible financial services environment throughout the Commonwealth.
Common questions
- What does "July 31, 2026 Regulatory Notice: Reminder of Money Transmitter Licensing Requirements Under M.G.L. c. 169B" cover?
- The Massachusetts Division of Banks issued a regulatory notice reminding entities that engaging in money transmission activities without a license…
- Which agency issued this update?
- This update was issued by Massachusetts Division of Banks.
- When was it published?
- It was published on July 31, 2026.
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