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About the MSBA

The Money Services Business Association or MSBA is a trade association focused on the non-bank money services industry. The Association was started to establish an industry led organization that supports the non-bank financial services industry and encourages the continued innovation and development in the payments industry while promoting the education and communication with Federal and State Regulators.

The Money Services Business Association or MSBA was launched October, 2015 by leading industry companies to support the non-bank financial services industry, legislation and regulation tracking, increasing awareness and understanding about the beneficial and secure services provided by the industry and to encourage and promote payments innovation.

Guiding Principles

Members must meet or exceed:

Regulatory and Anti-Money Laundering Compliance

1- Engaged in licensed activities (as required by regulations)

  • a. Obtain and Maintain State Licenses in Good Standing
  • b. Operate in compliance with all applicable state guidelines

2- Full Compliance with Federal and State Law regulations

  • a. Legal and Regulatory compliance
    • i. USA Patriot Act
    • ii. Bank Secrecy Act
    • iii. Title 31
    • iv. FinCEN
    • v. CFPB
    • vi. State Regulations in the states where they are licensed

3 - Robust Anti-Money Laundering and Terrorism Program

  • a. Implement programs to guard against illicit activity and exploitation of services by criminals
  • b. Monitor, detect, and report any suspicious activities found
  • c. Communicate and collaborate with law enforcement information which can prevent illicit activities

Fair Business Practices

Members should:

  • a. Be customer Centric, truthful in advertising disclosing all service terms and condition
  • b. Not be disparaging to other members or competitors
  • c. Collaborate with other members by sharing information on mutual customers, agents or partners found to be in violation of State or Federal Regulations (consistent with 314(b)).
  • d. Fully cooperate with law enforcement and actively report any suspicious activities or transaction patterns detected within their industry

Business Leadership and Education

In order for the Association to be effective, its members must take a leading role in the industry. Stay abreast of changing technology, educate and collaborate with Regulators on how to monitor its activities.

Membership Benefits

  • Receive updates and analysis on the latest state and federal law regulations affecting the industry.
  • Discuss and collaborate with your business colleagues to establish a clear and central voice on pressing topics to the industry.
  • Increase the understanding and benefits of the industry.
  • Educate and communicate with federal and state regulators.
  • Network with global based organizations.
  • Receive registration discounts for Industry Conferences and Webinars.
  • Encourage Payments innovation.