The MMLA Program Consists of Two Phases
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Phase One Review of general license application information
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Phase Two Review of state-specific license application information
How It Works
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Step 1: One of the participating Phase One state agencies will perform the Phase One Review and certify to the other state agencies that an applicant has satisfied all Phase One requirements.
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Step 2: After an application is submitted to their state agency, each participating state agency will perform the Phase Two Review of their state-specific requirements.
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Step 3: If the Phase Two Review is successful, a license approval may be granted by each state agency.
Note: The MMLA is for MSB companies ONLY. The term "money services businesses" for the purposes of the MMLA includes any person doing business in one of the following capacities:
1. Money transmitter
2. Issuer of traveler's checks, money orders, or stored value
3. Seller or redeemer of traveler's checks, money orders, or stored value
4. Currency deal or exchanger.
Review the Phase One Application Checklist for more details about what business activities are included in the term MSB for each participating state.
Washington Department of Financial Institutions (DFI) currently serves as the lead state for the MMLA. If you have questions about the MMLA Program, email Washington DFI (CSReg@dfi.wa.gov).
If you are a prospective multistate applicant interested in the applying through the MMLA Program, submit the MMLA Intake Form to Washington DFI (CSReg@dfi.wa.gov).
Note: If you are seeking licensure in fewer than five states over the next 12 months, the MMLA Program may not be for you. Instead, access the State Licensing section of the NMLS Resource Center.
