Existing law establishes the Money Transmission Act to protect the interests of persons in this state who use money transmission services. The act prohibits a person from engaging in the business of money transmission in the state, as specified, unless the person is licensed or exempt from licensure under the act. The act places various requirements on licensees, including requiring each licensee to post a notice on their premises informing individuals where complaints relating to money transmission activities at the location may be directed.
This bill would require a licensee to display on its internet website a telephone number through which a customer may contact the licensee for customer service issues, and would require the licensee to provide that telephone number in any written communication from a licensee to a customer related to
money received for transmission. The bill would require a licensee to reply within 24 hours to a consumer who contacts the licensee for customer service issues.