The Financial Technology Association (FTA) today called on the Alaska legislature to adopt the Money Transmission Modernization Act (MTMA), a state model law that modernizes payment regulation to meet the needs of consumers and small businesses in the digital age. FTA previously expressed support for the Model Law in letters to Maine, South Carolina, and South Dakota.
“FTA supports the adoption of the Model Law in all jurisdictions across the country,” wrote Penny Lee, FTA President and Chief Executive Officer. “The uniform adoption of the Model Law would result in less uncertainty and risk and remove barriers to innovation and adaptability for both consumers and providers. As the fintech payments industry continues to grow, states must implement this uniform legislation nationwide. More than a dozen U.S. states have enacted the Model Law, and FTA appreciates the Alaska Legislature’s efforts to do the same.”
Click here to read FTA’s full letter of support to the Alaska legislature.
ABOUT US
The Financial Technology Association (FTA) is a Washington, DC-based trade association representing industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.