Louisiana Enacts New Money Transmission Act, Largely Adopting Model Money Transmission Modernization Act

Short summary

Louisiana enacted HB 1230, the Louisiana Money Transmission Act, adopting the Model Money Transmission Modernization Act (MMTMA) framework. The law requires licensing through NMLS, imposes financial safeguards, reporting requirements, and authorized agent controls on money transmitters operating in the state. Existing licensees have a transition period, but the law took effect July 1, 2026, making Louisiana the latest of 30+ states to adopt MMTMA provisions.

• •Louisiana's HB 1230 replaces Sale of Checks Act with MMTMA-based framework
• •Key requirements: NMLS licensing, financial safeguards, reporting, agent controls
• •Law effective July 1, 2026; existing licensees get transition period until renewal or 12 months

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