NOTICE: In accordance with Governor Lamont's emergency declaration, employees and the public are asked to observe social distancing measures to ensure communal safety and to slow the spread of the novel coronavirus (COVID-19). People are asked to work from home and telecommute wherever possible. Adhering to these instructions, the Department of Banking has closed its offices to the public. However, agency staff will continue to provide services to consumers and industry through telework. When contacting the Department, please use electronic communication whenever possible. Agency staff will continue to check voicemails during this time. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to Department.Banking@ct.gov and it will be routed appropriately. Thank you for your patience during this time.

Money Transmitter Licensing

Essential Statutes

Please reference the relevant Connecticut Statutes (§§ 36a-595 to 36a-612, inclusive).

Notice to all Debt Adjusters:
Consumer Credit Division Director communication with licensed money transmitters and debt adjusters regarding the possible need to hold both licenses.
  
Notice issued by the Banking Commissioner, October 24, 2017:
No Action Position on Money Transmission Licensure Requirement for Persons Acting as an Agent of a Payee

Other Relevant Information:

  • Financial reports are required to be filed on or before April thirtieth each year.  Please refer to Section 36a-606 of the Connecticut General Statutes for complete details. 
  • Notice from the IRS Money Services Business Information Center regarding the Bank Secrecy Act.

If you wish to apply for a money transmitter license you should begin by first reviewing Connecticut’s Jurisdiction-Specific Requirements along with Connecticut's money transmitter licensing statutes, which provides the current licensing procedures and requirements applicable to money transmitters.

If your company already has a completed record in the Nationwide Multistate Licensing System and Registry, then applying for a license in Connecticut merely involves filing your company's record (Form MU1), control person records (Form MU2), and relevant branch records (Form MU3) with Connecticut through the NMLS and mailing in the jurisdiction-specific requirements to the Department.

Go to the Getting Started page of the NMLS website and follow the steps outlined:

NMLS - Resource Center

Any questions relating to the NMLS should be directed to the NMLS Call Center at (855) 665-7123.


Contact

Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800

Telephone: (860) 240-8200 or toll-free 800-831-7225
Fax: (860) 240-8215

WHO TO CONTACT - Contact Anne Cappelli by phone at 860-240-8206 or send your questions
via e-mail to Anne.Cappelli@ct.gov for additional assistance.