Letter supports a streamlined regulatory framework and improved efficiency in Louisiana’s payments ecosystem

Baton Rouge, LA (April 13, 2026) – The American Fintech Council (AFC), the largest industry association representing both responsible fintech companies and innovative banks, submitted a letter to Chairman Daryl Andrew Deshotel and Vice Chair Polly Thomas of the Louisiana House Commerce Committee expressing strong support for House Bill 1230. The proposed legislation would modernize Louisiana’s money transmission regulatory framework through adoption of the Conference of State Bank Supervisors’ Money Transmission Modernization Act (MTMA). The bill would streamline regulation, reduce unnecessary fragmentation across state lines, and strengthen the state’s payments ecosystem.

“A modern, harmonized regulatory framework for money transmission is essential to ensuring that consumers and businesses can fully benefit from innovation in the payments system,” said Phil Goldfeder, CEO of the American Fintech Council. “This bill brings Louisiana in line with a growing number of states adopting the MTMA, giving providers greater clarity while maintaining strong consumer protections. We commend Chair Deshotel, Vice Chair Thomas, and the House Commerce Committee for their leadership in advancing this important modernization effort.”

In the letter, AFC notes that more than 25 states have enacted versions of the MTMA, reflecting growing bipartisan recognition of the need to update outdated regulatory frameworks governing payments and money transmission. This legislation would help reduce compliance complexity for companies operating across multiple jurisdictions while improving efficiency, lowering costs, and supporting broader access to innovative financial services for Louisiana consumers and businesses.

“Strengthening and modernizing Louisiana’s money transmission framework is essential to reducing fragmentation and improving regulatory consistency,” said Ashley Urisman, Director of State Government Affairs at the American Fintech Council. “The MTMA provides a balanced framework that strengthens oversight while enabling responsible innovation. By adopting this model, Louisiana would enhance regulatory clarity, improve operational efficiency for providers, and help ensure that consumers and businesses benefit from faster, safer, and more seamless payment services.”

A standards-based organization, the American Fintech Council (AFC) is the largest and most diverse trade association representing financial technology (fintech) companies and innovative banks. On behalf of over 150 member companies and partners, AFC promotes a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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