Bill > HB3442

This bill modifies Oregon Revised Statutes (ORS) 717.210 to add a new exemption to money transmission licensing requirements. Specifically, the bill creates an exemption for persons who assist with or facilitate payment for goods or services under a written contract with a payee, provided they do not engage in money transmission themselves and the payment to them satisfies or extinguishes the payor's obligation to the payee. This means certain payment facilitators or intermediaries who help process payments through licensed financial institutions or regulated entities would not need to obtain a separate money transmission license. The bill also updates references to various federal regulations by specifying they are as of the effective date of the 2025 Act. The legislation will take effect 91 days after the adjournment of the 2025 regular session of the Oregon Legislative Assembly, which is a standard method for determining when a new law becomes operative. The exemption appears designed to provide regulatory clarity and potentially reduce licensing burdens for certain payment service providers.

Business and Industry

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3442