Bill Title: Amends the Transmitters of Money Act. Provides that the Director of Financial Institutions of the Department of Financial and Professional Regulation shall not issue an order against a money transmitter for practices contrary to the Act solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not prohibit, penalize, or otherwise discourage a money transmitter from providing financial services to a cannabis-related legitimate business solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not recommend, incentivize, or encourage a money transmitter not to offer financial services or to downgrade or cancel the financial services offered to an account holder solely because of specified reasons related to owning or operating a cannabis-related legitimate business.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB5477 Detail]

Text: Latest bill text (Introduced) [HTML]

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