Debt Relief Industry Regulation / Legislation

Awesome Webinar from National Policy Group on State Money Transmitter Law Compliance for Debt Relief Operations

If you have not had the opportunity to attend the webinar put on by National Policy Group on State Money Transmitter Law Compliance, you should.

The free webinar covers issues surrounding the money transmitter law that impact credit counseling groups.

The question the webinar posed is if credit counseling agencies need to be licensed as a money transmitter in those states that had such laws and if licensed, does the credit counseling need to still be licensed as a money transmitter.

There was not one clear answer across the states and the focus on compliance is just hammered home with multiple examples.

It was made clear that simply being exempt from some registration or regulations as a nonprofit group it still requires a nonprofit credit counseling agency to become a registered money transmitter, as in states like Oklahoma or South Dakota.

If you get a chance to signup for this free webinar from National Policy Group and you are with a credit counseling group, I think you’ll find it enlightening.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  • Really, are Mark and Kallie at it again?  

    After they went for the money grab with Credit Solutions,(who threw him to the curb shortly thereafter).  After the sold out AADMO’s membership with their FTC testimony which  did not have anything to do with Credit Counseling, but supported their future employers (Credit Solutions).

    Mark is a great guy, but his credibility is shot with credit counseling.  They should just go away!

  •  Really, are Mark and Kallie at it again?  

    After they went for the money grab with Credit Solutions,(who threw him to the curb shortly thereafter).  After the sold out AADMO’s membership with their FTC testimony which  did not have anything to do with Credit Counseling, but supported their future employers (Credit Solutions).

    Mark is a great guy, but his credibility is shot with credit counseling.  They should just go away!

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