Browsing All posts tagged under »MSB«

Frank-Dodd Remittance 1073 requirements–a classic case of good intentions gone horribly wrong in the legislative process

August 2, 2012

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I thought I’d post the comment I made on Barbara Rehm’s latest article for American Banker (today, August 2, 2012):  Dodd-Frank Put Solution to TBTF in Regulators’ Hands. I’ve also included the full article below my post as follows (in case you are not a subscriber) and my “lengthy comment” follows. Dodd-Frank Put Solution to […]

“Alternative Payment” Providers–Walmart, PayPal, Google and Facebook–are the new faces of money service businesses

March 14, 2012

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The classification of a money service business (MSB) in the past has never generated positive connotations or excitement.  Bankers audibly groaned when the those three words were mentioned.  MSBs were often located in less than desirable locations and considered taking advantage of the poor due to the fees charged for payday lending and being havens […]

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