Fintech Regulations and Compliance: State Regulators
State regulators have the most impact on fintechs. In this guide, we explain how to navigate state regulations and interact with state regulators.
Money Services Business (MSBs) and Money Transmitters
If you work in fintech, you may have heard the phrase “money transmitter.” If you handle and send money for others, it’s important to know the basics of money transmission licenses (MTLs). But MTLs are actually a subset of “money services businesses” or MSBs.
How to Build and Scale a Compliance Team
In this guide, we provide guidance on how to build a compliance organization from scratch, covering everything from staffing to responsibilities.
Fintech Guide to Building a Compliance Program
Compliance can feel like a black box to many fintech operators. In this guide, we explain how to approach building a compliance program.
Fintech Guide to Building U.S. KYC/KYB Operations
This guide explains common KYC requirements and highlights areas that you’ll likely need to consider as you build up your KYC operations.
Lithic Legal Library: Free Legal Templates for Card Programs
Introducing the Lithic Legal Library — an open repository of legal and compliance templates that are free for all companies to use.
Explainer on Fintech AML Requirements
AML laws require fintechs to have programs and tools in place to detect/prevent money laundering. This explainer helps you navigate what’s needed.
Gift Card Requirements and Promo Card Rules
Gift cards and promotional cards are like prepaid cards that come pre-loaded with a specific amount of money. These cards can be either closed-loop or open-loop.
Explainer on The Prepaid Rule for Fintechs
If you’re issuing cards, you’ve likely heard about prepaid cards. But why are so many fintechs offering these products? And why is the prepaid card market valued at over $1.73 trillion¹?Prepaid cards can be used just like a debit or credit card, but they’re not tied to any bank account and work a little differently behind the scenes. Unlike debit cards, your money is loaded on the card itself (rather than a bank account) and you can generally only use the card to spend up to the amount you loaded.
Explainer on the Electronic Fund Transfer Act & Regulation E for Fintechs
If you’re launching a card program, you may have heard terms like the EFTA or Reg E being thrown around in legal or compliance discussions.The Electronic Fund Transfer Act (EFTA) is important to fintechs because it establishes the rights, liabilities, and responsibilities for parties involved in an electronic transaction (like a debit card transaction). It’s what allows consumers to challenge transaction errors (disputes) or get their money back when an investigation reveals a legitimate error or wrongdoing (chargeback).