In April 2024, Wisconsin and Maine enacted the Model Money Transmission Modernization Law (“MTML”) to implement the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act.  As of April 22, 2024, twenty-one states have fully or partially enacted the model act, and eight additional states having legislation pending.

On April 4, 2024, Wisconsin enacted the MTML, which becomes effective January 1, 2025. … Continue Reading