Colorado Governor Polis signed the Money Transmitter Model Act into law on Friday, April 18, 2025; it becomes effective 90 days from the closing of the legislature, which makes the effective date August 6, 2025. Applicants and licensees will be required to meet specific tangible net worth and other financial requirements. Additionally, updates will be made to the Electronic Surety Bond and NMLS settings and checklists. Furthermore, statutory exemptions to licensing are now included for payroll processors and “agent-of-the-payee” business models. Please review the full law (HB25-1201) for updates and changes applicable to your institution.  If you have any questions, please contact the Division of Banking at 303-894-7575 or DORA_BankingWebsite@state.co.us.