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Updated:   2026-02-04

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Measure
Authors Richardson  
Subject Money Transmission Act: authentication.
Relating To relating to financial protection.
Title An act to add Chapter 10 (commencing with Section 2180) to Division 1.2 of the Financial Code, relating to financial protection.
Last Action Dt 2026-01-05
State Amended Senate
Status Pending Referral
Flags
Vote Req Approp Fiscal Cmte Local Prog Subs Chgs Urgency Tax Levy Active?
Majority No Yes Yes None No No Y
i
Leginfo Link  
Bill Actions
2026-01-27     In Assembly. Read first time. Held at Desk.
2026-01-27     Read third time. Passed. (Ayes 40. Noes 0.) Ordered to the Assembly.
2026-01-21     Read second time. Ordered to third reading.
2026-01-20     From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
2026-01-09     Set for hearing January 20.
2026-01-08     Re-referred to Com. on APPR.
2026-01-08     Withdrawn from committee.
2026-01-07     Withdrawn from committee.
2026-01-07     Re-referred to Com. on JUD.
2026-01-07     From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (January 7). Re-referred to Com. on APPR.
2026-01-05     From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
2025-12-18     Set for hearing January 7.
2025-03-26     April 2 set for first hearing canceled at the request of author.
2025-03-24     From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
2025-03-18     Set for hearing April 2.
2025-02-26     Referred to Coms. on B. & F.I. and JUD.
2025-02-20     From printer. May be acted upon on or after March 22.
2025-02-19     Introduced. Read first time. To Com. on RLS. for assignment. To print.
Versions
Amended Senate     2026-01-05
Amended Senate     2025-03-24
Introduced     2025-02-19
Analyses TBD
Latest Text Bill Full Text
Latest Text Digest

The Money Transmission Act (MTA) prohibits a person from engaging in the business of money transmission in the state, or from advertising, soliciting, or holding itself out as providing money transmission in the state, unless the person is licensed by the Department of Financial Protection and Innovation under the act. The MTA defines “money transmission” to mean, among other things, selling or issuing stored value to a person located in the state and defines “stored value” to mean monetary value representing a claim against the issuer that is stored on an electronic or digital medium and evidenced by an electronic or digital record and that is intended and accepted for use as a means of redemption for money or monetary value or payment for goods or services. The MTA punishes noncompliance with, among other things, a civil penalty, license revocation, and, for certain violations, as a felony, as prescribed.