Jonathan Lee and Laura Lopez-Rakauskas are available to confer with you in advance of filing an application for the purpose of discussing questions related to the application. DFPI 5025 – Appointment of Commissioner of the Department of Financial Protection and Innovation as Agent for Service of Process (Money Transmitters) (PDF).DFPI 4030 – Authorization for Release of Information (Money Transmitters) (PDF).DFPI 2120 Spanish -Unlicensed Money Transmitter Complaint/Queja Con Respecto A Un Transmisor De Dinero No Authorizado (PDF).DFPI 2120 English – Unlicensed Money Transmitter Complaint (PDF).DFPI 2118 – Application for Approval to Acquire Control of Money Transmitters (PDF).DFPI MTD BCII 8016 – Request for Live Scan and Live Scan process instructions Form (PDF).DFPI 2110 – Application for a License to Engage in the Money Transmission Business (PDF).DFPI 550 – Emergency Contact Person Information (PDF).DFPI-525 Call Report Forms and instructions.DFPI 2 – Personal Financial Statement (PDF).FDIC 3064-0006 – Department of Financial Protection and Innovation Supplemental Instructions (PDF).FDIC 3064-0006 – Interagency Biographical and Financial Report Form.Notice to Individual – Use of Information The following items comprise the application package for a license to engage in the business of money transmission. Carroll’s attention at the above address. The fee may also be sent as a check made out to the Department of Financial Protection and Innovation to Mr. The non-refundable fee of five thousand dollars ($5,000) may be sent as an ACH transfer. The successful applicant will be able to demonstrate a working knowledge of the laws and regulations that govern money transmitters and be ready to present a proposed business plan.Īpplications may be filed via the NMLS, instructions for which can be found on the New Application Checklist for new license applications and the Amendment Checklist for acquisition of control applications.Īpplications for a new money transmitter license may also be completed using DFPI 2110 (linked below) and sent as PDF attachments to an email addressed to Patrick Carroll at Completed applications may also be sent in hard copy to: Patrick Carroll, Licensing & Information Reporting Manager, Department of Financial Protection and Innovation, One Sansome Street, Suite 600, San Francisco, CA 94104-4428. For acquisition of control applicants, this step is highly recommended, especially if the applicants are not known to the Money Transmitter Division staff. The Department recommends these meetings occur in-person at the San Francisco Office, however other arrangements are acceptable. The filing fee is five thousand dollars ($5,000) for a new license and is not refundable in the event an application is incomplete or inadequate. The meeting also helps prospective applicants prepare an application that meets all the requirements of California and federal law. The purpose of the pre-filing meeting is to answer the prospective applicant’s questions about the process and regulatory requirements, and to help the DFPI process the application in a timely manner. Jonathan Lee at (213) 435-3921 or by email at or Laura Lopez-Rakauskas at (213) 200-1800 or by email at to arrange for a copy of pre-filing materials and make an appointment. The prospective applicant may contact Mr. Once the prospective applicant for a new money transmitter license or acquisition of control understands the laws and regulations that govern money transmission in California, it is highly recommended that the applicant arrange for a pre-filing meeting with the Money Transmitter Division staff. The Department is a member of the Money Transmitter Regulators Association (MTRA). Examinations, Special Reports, and RecordsĬhapter 8.
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