DOB: Money Transmitter Licensing Information

Money Transmitter Licensing


Essential Statutes
Please reference the relevant Connecticut Statutes (§§ 36a-595 to 36a-612, inclusive) and Sections 5 through 8, inclusive, of Public Act 15-53 before applying for a license.

Notice to all Debt Adjusters:
Consumer Credit Division Director communication with licensed money transmitters and debt adjusters regarding the possible need to hold both licenses.

Other Relevant Information:
  • Financial reports are required to be filed on or before April thirtieth each year.  Please refer to Section 36a-606 of the Connecticut General Statutes for complete details. 
     
  • Notice from the IRS Money Services Business Information Center regarding the Bank Secrecy Act.
     

 Nationwide Multistate Licensing and Registry
 
On July 1, 2015, the Department of Banking began participation for non-mortgage licensees on NMLS. 
 


If you wish to apply for a money transmitter license you should begin by first reviewing Connecticut’s Jurisdiction-Specific Requirements along with Connecticut's money transmitter licensing statutes, which provides the current licensing procedures and requirements applicable to money transmitters.
 
All new applications must be submitted to the Department via the Nationwide Multistate Licensing and Registry.
 
If your company already has a completed record in the National Mortgage Licensing System, then applying for a license in Connecticut merely involves filing your company's record (Form MU1), control person records (Form MU2), and relevant branch records (Form MU3) with Connecticut through the NMLS and mailing in the required jurisdiction-specific requirements to the Department.
 
Go to the Getting Started page of the NMLS website and follow the steps outlined.
 
  {NMLS Button}
 
Any questions relating to the NMLS should be directed to the NMLS Call Center at (855) 665-7123.


CONTACT

Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800

Telephone: (860) 240-8200 or toll-free 800-831-7225
Fax: (860) 240-8215

WHO TO CONTACT - Contact Anne Cappelli by phone at 860-240-8206 or send your questions
via e-mail to Anne.Cappelli@ct.gov for additional assistance.


 
Visit the Connecticut's Business Response Center for information on all licensing and permitting activities across Connecticut State government.
 



Content Last Modified on 4/22/2016 11:53:32 AM