One of the defining aspects of the payments revolution of the past few years—at least from a regulatory perspective — has been the question of whether a particular payments service is subject to regulation as money transmission. A recent trend has been toward states affirming that, under certain conditions, state money transmission licensing laws do… Read More
News that an online marketplace lender extended a $28,500 loan to Syed Rizwan Farook, one of the alleged San Bernardino attackers, just two weeks before the attack, has spurred House Financial Services Committee Chairman Jeb Hensarling (R-TX) to announce plans to propose new terrorist financing legislation in the coming months. On December 10, 2015, Chairman… Read More
The Financial Services Group has published the Winter 2014 Edition of the Financial Services Report. Read the full report here.
MoFo ReEnforcement is happy to introduce a free app for the mobile payment industry, MoFoMobl$ (or MobileMoney). Developed by Morrison & Foerster, MoFoMobl$, provides users with an overview of key regulatory issues and considerations, access to timely alerts and articles, and a weekly news digest on market developments. To download the free app for iOS,… Read More