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CALIFORNIA CORPORATE & SECURITIES LAW

In The DBO’s World, Money, Money, Money Transmitters

Many may not realize that the Money Transmitter Division of the California Department of Business Oversight licenses and regulates money transmitters.  Money transmitters include issuers of payment instruments (money orders), travelers checks and stored value.  California’s Money Transmission Act codified at Financial Code § 2000 et seq. Western Union is among the best known money transmitters (a…

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