• Background regarding Division of Banks Selected Opinions

    The publication of these Selected Opinions, as well as the previously issued Annual and Quarterly Digests, is part of the Division's ongoing effort to continue to improve its communication with all those who have a vested interest in the financial services industry. Through these Selected Opinions and Digests, the Division offers its perspective on current issues and questions in the financial services industry. As always, requests for opinions from the Division must be addressed directly to the Commissioner of Banks, Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400 and must include a statement of all relevant facts, cites to applicable statutes and regulatory documents and an analysis of those materials supporting your position. The Division acknowledges receipt of opinion requests by assigning each a number. Any subsequent inquiries to the Division about an opinion request should refer to this opinion number.
  • Selected Opinion 05-021

    Is a License Required to Transmit Commercial Funds Solicited by Telephone or Personal Contact from Outside the Commonwealth - July 18, 2005
  • Selected Opinion 01-103

    Do Credit Unions Need a License To Have Foreign Transmittals Done by Licensed Entity - August 16, 2001
  • Summary of Selected Opinion 99-078

    Permission For A Massachusetts Multi-Licensed Entity To Share Office Space With Its Out-Of-State Chartered Bank - Q3 1999
  • Summary of Selected Opinion 98-144

    Exemptions From Foreign Transmittal Licensing Requirements For Telegraph Companies - Q3 1998
  • Summary of Selected Opinion 98-089

    Licensing For Agents Of Licensed Foreign Transmittal Agencies and Check Sellers - Q2 1998
  • Summary of Selected Opinion 98-079

    Calculation Of Bond Requirement - Q2 1998
  • Summary of Selected Opinion 98-046

    Licensing Of Companies That Help Other Companies To Obtain Favorable U.S. Dollar Exchange Rates - Q3 1998
  • Summary of Selected Opinion 98-034

    Licensing Of Travel Agents Who Conduct Foreign Transmittal Transactions
  • Summary of Selected Opinion 97-258

    Bond Requirements For Licensees
  • Summary of Selected Opinion 97-218

    Licensing Requirements Of Foreign Transmittal Agencies - Q4 1997
  • Past opinions of the Division of Banks

    Copies of past opinions may be obtained for a fee from the Division's Consumer Assistance Unit at (617) 956-1502, and must be paid for by check. The Division's Regulations, found in the Code of Massachusetts Regulations (CMR - agency code number 209), are available through the State House Bookstore, State House Room 116, Boston, Massachusetts, 02133. Please contact the bookstore directly for prices at (617) 727-2834.