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.
“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,” wrote FTA’s President and CEO, Penny Lee. “As the fintech payments industry continues to grow, states must implement this uniform legislation nationwide.”
Read FTA’s full letter of support to the Alaska legislature here.