New York state money transmission disclosure act requires written disclosures for currency exchange transactions.

The New York state money transmission disclosure act mandates that licensees provide customers with written disclosures for transactions involving currency exchange between countries. These disclosures must be given before the customer pays for the transaction and include details such as the total amount of currency presented, the exchange rate, fees, and the total amount to be delivered. The superintendent of financial services is authorized to implement necessary rules and regulations. This act will take effect 90 days after becoming law.

New York state money transmission disclosure act requires written disclosures for currency exchange transactions.

The New York state money transmission disclosure act mandates that licensees provide customers with written disclosures for transactions involving currency exchange between countries. These disclosures must be given before the customer pays for the transaction and include details such as the total amount of currency presented, the exchange rate, fees, and the total amount to be delivered. The superintendent of financial services is authorized to implement necessary rules and regulations. This act will take effect 90 days after becoming law.