Thursday, December 17, 2015

California Money Transmitter Licensee Signage Change

AB 1517 amended Financial Code section 2105 (a). Effective Jan. 1, 2016, the disclosure required to be posted at agent and branch locations for money transmitter licensees has changed to reflect a new toll free telephone number for contacting the Department of Business Oversight. Per Financial Code section 2105(a) - Each licensee or agent shall prominently post on the premises of each branch office that conducts money transmission a notice stating that: If you have complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the California Department of Business Oversight at its toll-free telephone number, 1-866-275-2677, by email at, or by mail at the Department of Business Oversight, Consumer Services,1515 K Street, Suite 200, Sacramento, CA 95814.