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Pennsylvania – Amendment to Money Transmitter Act Effective January 3, 2017

House Bill 850 (Act No. 129) signed by the governor November 3 and effective January 3 amends the Money Transmitter Act to, among other things, increase the annual license fee from $2,000 to $5,000 and change the term of a license from expiration on January 1 to not more than 14 months.