Payments Pros – The Payments Law Podcast
Aug 26, 2026 · 13 min · 9 segments
In this episode of Payments Pros, host Keith Barnett examines a June 2026 multistate consent order issued jointly by Colorado and Texas against RamadPay, a Minnesota-based money transmitter…
Today, I want to talk about a consent order that was executed this past June of 2026 involving a money transmitter called Ramadpay, which is a Minnesota-based money transmitter.
Failure to timely file currency transaction reports, deficiencies in the company's AML slash CFT program, and alleged gaps in safeguarding consumer financial information.
I want to talk to you about this order today because I think this order serves as a useful example of what regulators are focused on when they come in and examine a money transmitter, especially when we have the federal regulators that are less active than they used to be.
Today, I want to talk about a consent order that was executed this past June of 2026 involving a money transmitter called Ramadpay, which is a Minnesota-based money transmitter.
Failure to timely file currency transaction reports, deficiencies in the company's AML slash CFT program, and alleged gaps in safeguarding consumer financial information.
I want to talk to you about this order today because I think this order serves as a useful example of what regulators are focused on when they come in and examine a money transmitter, especially when we have the federal regulators that are less active than they used to be.
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