{ "jurisdiction_id": "US-AL", "jurisdiction": "United States – Alabama", "url": "https://payments.gi/jurisdictions/united-states-alabama/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 62, "source_register": 154 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w1a-licensing-authorisation-market-access", "standing_position": "Alabama regulates money transmission (including virtual currency) under the Alabama Monetary Transmission Act (Ala. Code §8-7A-1 et seq.), administered by the Alabama Securities Commission (ASC) Registration Division, which replaced the 1961 Sale of Checks Act effective August 1, 2017. Licensing runs via NMLS or direct ASC application (Form MT), with a minimum $100,000 surety bond (up to $5,000,000 at Commission discretion) and annual March 31 expiry.", "findings": [ { "finding": null, "instrument_type": "Statute (Ala. Code §8-7A-1 et seq., Alabama Monetary Transmission Act)", "source": "https://asc.alabama.gov/for-industry/registration/monetary-transmission/", "source_url": "https://asc.alabama.gov/for-industry/registration/monetary-transmission/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (Ala. Code §8-7A-7, Security)", "source": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_url": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (Ala. Code §8-7A-6(c), Fees)", "source": "https://asc.alabama.gov/for-industry/registration/monetary-transmission/", "source_url": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (Act 2017, Alabama Monetary Transmission Act)", "source": "https://asc.alabama.gov/wp-content/uploads/2023/11/8-16-17-Money-Transfers-Act-Signed-etc.pdf", "source_url": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance", "source": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_url": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance", "source": "https://www.ridgewayfs.com/money-transmitter-license-requirements-by-state/", "source_url": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "HB303 (Cryptocurrency Kiosk Fraud Prevention Act) was enacted and signed by Governor Kay Ivey, effective October 1, 2026, imposing receipts, refund mechanisms, consumer support lines, fraud warnings, $1,000/day-$10,000/month transaction caps, and civil/criminal penalties on cryptocurrency-kiosk operators.", "findings": [ { "finding": null, "instrument_type": "Statute (Ala. Code §8-7A-4, exemption conditions)", "source": "https://asc.alabama.gov/statute/alabama-securities-act-title-8-section-7a/", "source_url": "https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2026RS/HB303-enr.pdf", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Guidance", "source": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_url": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance/Verification report", "source": "https://www.rocketcitynow.com/article/news/verify/verify-no-alabama-law-does-not-require-businesses-to-disclose-credit-card-surcharges/525-66257317-e7bb-4682-9c93-a9f9825e6cac", "source_url": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Pending legislation (HB303, Cryptocurrency Kiosk Fraud Prevention Act)", "source": "https://www.aarp.org/states/alabama/alabama-house-passes-house-bill-303/", "source_url": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Pending legislation (HB303)", "source": "https://asc.alabama.gov/wp-content/uploads/2026/01/Proposed-Bill-Introduced-in-Alabama-Legislature-to-Protect-Consumers-from-Cryptocurrency-Kiosks-Fraud.pdf", "source_url": "https://www.bryantsuretybonds.com/blog/how-to-get-a-money-transmitter-license-in-alabama", "source_tier": "1", "retrieved_at": "2026-07-05" } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w2-stablecoins-digital-money", "standing_position": "Alabama enacted the Financial Innovation Market Expansion Act (HB259, signed April 9, 2026) creating a new Chapter 7B licensing regime for 'Alabama qualified payment stablecoin issuers' implementing the federal GENIUS Act, administered by the ASC. This sits atop the pre-existing 2017 Monetary Transmission Act, which already swept virtual currency into the general money-transmission licensing perimeter.", "findings": [ { "finding": null, "instrument_type": "Statute (HB259, Financial Innovation Market Expansion Act, new Ala. Code Ch. 8-7B)", "source": "https://asc.alabama.gov/wp-content/uploads/2026/04/Stablecoin-Legislation.pdf", "source_url": "https://asc.alabama.gov/wp-content/uploads/2026/04/Stablecoin-Legislation.pdf", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (HB259 engrossed text)", "source": "https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2026RS/HB259-eng.pdf", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Regulatory guidance/press statement", "source": "https://asc.alabama.gov/wp-content/uploads/2026/03/Alabama-Lawmakers-Advance-the-Financial-Innovation-Market-Expansion-Act.pdf", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Regulatory body (ASC Financial Innovation Division)", "source": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (2017 Alabama Monetary Transmission Act)", "source": "https://asc.alabama.gov/wp-content/uploads/2023/11/8-16-17-Money-Transfers-Act-Signed-etc.pdf", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w3-operational-resilience-critical-infrastructure", "standing_position": "Alabama's operational-resilience layer for payments data is anchored in the 2018 Data Breach Notification Act (the last such law enacted among U.S. states) and the newly signed but not-yet-effective Alabama Personal Data Protection Act (2026). There is no Alabama-specific operational-resilience or critical-third-party regime analogous to DORA; resilience obligations for depository institutions flow through federal banking-agency (FFIEC/GLBA) channels overseen jointly with the State Banking Department.", "findings": [ { "finding": null, "instrument_type": "Statute (Ala. Code §8-38-1 et seq., Data Breach Notification Act of 2018, Act 2018-396)", "source": "https://www.alabamaag.gov/data-breach-notification/", "source_url": "https://www.recordinglaw.com/us-laws/data-privacy-laws/alabama-data-privacy-laws/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (Ala. Code §8-38-2, definitions)", "source": "https://law.justia.com/codes/alabama/title-8/chapter-38/section-8-38-2/", "source_url": "https://www.alabamaag.gov/data-breach-notification/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance", "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/alabama-data-privacy-laws/", "source_url": "https://www.alabamaag.gov/data-breach-notification/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance", "source": "https://alabamaretail.org/data-security/", "source_url": "https://www.alabamaag.gov/data-breach-notification/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Regulatory body (Alabama State Banking Department)", "source": "https://banking.alabama.gov/about/", "source_url": "https://www.alabamaag.gov/data-breach-notification/", "source_tier": "1", "retrieved_at": "2026-07-05" } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w4-scheme-network-compliance", "standing_position": "Alabama has not enacted an interchange-fee restriction on tax or gratuity amounts (unlike Illinois or Colorado); instead, effective September 1, 2026 (SB221/Act 2026-587), it excludes merchant-charged 'credit card transaction fees' from the state sales/use tax base, leaving interchange fees themselves untouched. Card-network technical and surcharge rules (PCI DSS, ~3% network surcharge ceiling, federal 4% cap) govern by default absent state-specific scheme regulation.", "findings": [ { "finding": null, "instrument_type": "Statute (SB221/Act 2026-587)", "source": "https://www.avalara.com/blog/en/north-america/2026/05/alabama-credit-card-fees.html", "source_url": "https://www.avalara.com/blog/en/north-america/2026/05/alabama-credit-card-fees.html", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Statute (SB221)", "source": "https://www.salestaxinstitute.com/resources/alabama-credit-card-fees-excluded-from-sales-tax-2026", "source_url": "https://www.avalara.com/blog/en/north-america/2026/05/alabama-credit-card-fees.html", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Guidance", "source": "https://merchantcostconsulting.com/lower-credit-card-processing-fees/alabama-surcharge-laws/", "source_url": "https://www.avalara.com/blog/en/north-america/2026/05/alabama-credit-card-fees.html", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w5-payment-corridor-dynamics", "standing_position": "Alabama's principal payments-corridor development is a proposed 1.5% state fee on outbound international wire transfers (HB585, 2026 session) aimed at immigration-enforcement funding, contested on federal-preemption grounds. Alongside this, at least 16 Alabama-headquartered community banks and credit unions have joined the Federal Reserve's FedNow instant-payments network, indicating meaningful domestic real-time-rail build-out.", "findings": [ { "finding": null, "instrument_type": "Pending legislation (HB585)", "source": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_url": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Market infrastructure (FedNow participation)", "source": "https://www.nerdwallet.com/banking/learn/banks-that-use-fednow", "source_url": "https://www.nerdwallet.com/banking/learn/banks-that-use-fednow", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Context", "source": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_url": "https://www.nerdwallet.com/banking/learn/banks-that-use-fednow", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w6-industry-structure-commercial-dynamics", "standing_position": "Alabama's banking sector remains highly fragmented at the community-bank level (53 Federal Reserve-defined in-state banking markets, 29 single-county), supervised by the Alabama State Banking Department, with active 2025-2026 consolidation activity spanning both traditional bank M&A (CBS Banc-Corp/TAG Bancshares) and a landmark bank/fintech restructuring (CommerceOne Financial's acquisition of Green Dot Bank).", "findings": [ { "finding": null, "instrument_type": "M&A transaction", "source": "https://bankingjournal.aba.com/2025/11/bank-acquisitions-announced-in-three-states-8/", "source_url": "https://ballotpedia.org/Financial_regulation_in_Alabama", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "M&A transaction", "source": "https://bankingjournal.aba.com/2025/11/bank-acquisitions-announced-in-three-states-8/", "source_url": "https://ballotpedia.org/Financial_regulation_in_Alabama", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Market structure", "source": "https://ballotpedia.org/Financial_regulation_in_Alabama", "source_url": "https://ballotpedia.org/Financial_regulation_in_Alabama", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Market structure", "source": "https://www.privsource.com/acquisitions/payments-fintech/state/alabama", "source_url": "https://ballotpedia.org/Financial_regulation_in_Alabama", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w7-legal-litigation", "standing_position": "Alabama's payments-specific legal infrastructure is primarily the Monetary Transmission Act's enforcement toolkit (cease-and-desist, consent orders, restitution, civil and criminal penalties) rather than a body of appellate payments case law. No dedicated Alabama appellate decision squarely on money-transmission or payments regulation was identified in this pass; the most salient current legal debate is the federal-preemption challenge raised against the pending HB585 international-wire-transfer fee.", "findings": [ { "finding": null, "instrument_type": "Statute (Ala. Code §§8-7A-17 to 8-7A-20)", "source": "https://law.justia.com/codes/alabama/title-8/chapter-7a/", "source_url": "https://asc.alabama.gov/wp-content/uploads/2025/12/CO-2025-0033.pdf", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Enforcement action (ASC Consent Order CO-2025-0033)", "source": "https://asc.alabama.gov/wp-content/uploads/2025/12/CO-2025-0033.pdf", "source_url": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Legal debate", "source": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_url": "https://www.rocketcitynow.com/article/news/state/alabama-bill-proposes-15-fee-on-money-transfers-to-fund-immigration-law-enforcement/525-8c7e29f9-f7cf-49c8-af51-2052277d4804", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w8-merchant-acquiring-risk", "standing_position": "Alabama has no dedicated merchant-acquiring statute distinct from general commercial law; acquiring risk practice defaults to federal card-network rules and the Deceptive Trade Practices Act for merchant conduct. The clearest emerging state-level merchant-risk regime targets a specific high-risk channel: cryptocurrency kiosks, via the pending Cryptocurrency Kiosk Fraud Prevention Act.", "findings": [ { "finding": null, "instrument_type": "Guidance", "source": "https://merchantcostconsulting.com/lower-credit-card-processing-fees/alabama-surcharge-laws/", "source_url": "https://www.atmmarketplace.com/news/alabama-seeks-to-curb-crypto-atm-fraud/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "High-risk merchant regulation (HB303)", "source": "https://www.atmmarketplace.com/news/alabama-seeks-to-curb-crypto-atm-fraud/", "source_url": "https://www.atmmarketplace.com/news/alabama-seeks-to-curb-crypto-atm-fraud/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "High-risk merchant regulation (HB303)", "source": "https://asc.alabama.gov/wp-content/uploads/2026/01/Proposed-Bill-Introduced-in-Alabama-Legislature-to-Protect-Consumers-from-Cryptocurrency-Kiosks-Fraud.pdf", "source_url": "https://www.atmmarketplace.com/news/alabama-seeks-to-curb-crypto-atm-fraud/", "source_tier": "1", "retrieved_at": "2026-07-05" } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w9-product-innovation-market-development", "standing_position": "Alabama's product-innovation frontier spans real-time payments infrastructure adoption among community banks (FedNow), a new state-licensed stablecoin-issuance pathway (HB259), an active regulator-side Financial Innovation Division, and grassroots fintech education initiatives, positioning the state as an emerging (if community-bank-weighted) digital-finance hub.", "findings": [ { "finding": null, "instrument_type": "Market infrastructure (FedNow)", "source": "https://www.nerdwallet.com/banking/learn/banks-that-use-fednow", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Product/regulatory innovation (HB259)", "source": "https://asc.alabama.gov/wp-content/uploads/2026/04/Stablecoin-Legislation.pdf", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Regulatory body (ASC Financial Innovation Division)", "source": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Innovation/education program (Dollarcraft)", "source": "https://www.aamu.edu/about/inside-aamu/news/interdisciplinary-teams-to-present-real-world-digital-banking-prototypes.html", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Product development", "source": "https://www.privsource.com/acquisitions/payments-fintech/state/alabama", "source_url": "https://asc.alabama.gov/for-industry/financial-innovation/", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w10-consumer-protection-app-fraud", "standing_position": "Consumer protection runs through the Attorney General's Consumer Interest Division (Deceptive Trade Practices Act enforcement, hotline, ongoing scam-alert campaigns) and the ASC's crypto-kiosk survey work underpinning HB303. Alabama has no APP-fraud reimbursement mandate akin to the UK's PSR regime; unauthorized-transfer protection instead flows through federal Regulation E/EFTA and general consumer-fraud enforcement.", "findings": [ { "finding": null, "instrument_type": "Regulatory body (AG Consumer Interest Division)", "source": "https://www.alabamaag.gov/divisions/consumer-interest-division/", "source_url": "https://www.alabamaag.gov/divisions/consumer-interest-division/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Consumer alert", "source": "https://abc3340.com/news/local/alabama-ag-warns-residents-of-sophisticated-phone-scams-targeting-consumers", "source_url": "https://yellowhammernews.com/proposed-bill-seeks-to-curb-cryptocurrency-kiosk-fraud-targeting-alabama-seniors/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Consumer protection data (ASC survey)", "source": "https://www.atmmarketplace.com/news/alabama-seeks-to-curb-crypto-atm-fraud/", "source_url": "https://yellowhammernews.com/proposed-bill-seeks-to-curb-cryptocurrency-kiosk-fraud-targeting-alabama-seniors/", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Pending legislation (HB303)", "source": "https://www.aarp.org/states/alabama/alabama-house-passes-house-bill-303/", "source_url": "https://yellowhammernews.com/proposed-bill-seeks-to-curb-cryptocurrency-kiosk-fraud-targeting-alabama-seniors/", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Case evidence", "source": "https://yellowhammernews.com/proposed-bill-seeks-to-curb-cryptocurrency-kiosk-fraud-targeting-alabama-seniors/", "source_url": "https://yellowhammernews.com/proposed-bill-seeks-to-curb-cryptocurrency-kiosk-fraud-targeting-alabama-seniors/", "source_tier": "3", "retrieved_at": "2026-07-05" } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w11-aml-cft-financial-crime", "standing_position": "W11 baseline content is Sentinel.gi-fed per methodology; original illicit-finance analysis is out of scope for WPM. The payments-context AML posture available from public primary sources is that Alabama money transmitters and stablecoin issuers must layer state licensing compliance atop federal FinCEN/BSA MSB registration and AML program obligations, with the Monetary Transmission Act's legislative history explicitly citing money-laundering prevention as a driver of the 2017 reform.", "findings": [ { "finding": null, "instrument_type": "Sentinel-fed context", "source": "sentinel.ballotpedia.org/wiki/Financial_regulation_in_Alabama", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": "Alabama operates under the federal BSA/AML/CFT framework administered by FinCEN, OFAC, and federal banking regulators; state-level layers include the Alabama Securities Commission (crypto/securities fraud), the Alabama State Banking Department (money transmitter licensing), and the Alabama Department of Public Safety (FinCEN Gateway Program access). Alabama is structurally significant as the originating venue of litigation that reshaped national beneficial-ownership policy and as host to the federal government's primary crypto-forensics training infrastructure.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — United States — Alabama", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: sourcing-thinness", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Sanctions: OFAC licence-change", "instrument_type": "sanctions_change", "source": "FIM (sentinel.gi) sanctions_change_register (issue FIM-BASE-SANC-002)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Sanctions: OFAC wind-down", "instrument_type": "sanctions_change", "source": "FIM (sentinel.gi) sanctions_change_register (issue FIM-BASE-SANC-001)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Gap: political-constraint", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: regulatory-failure", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w12-correspondent-banking-settlement-access", "standing_position": "Alabama-chartered banks access correspondent and settlement infrastructure through the standard dual federal/state pathway (Federal Reserve membership or FDIC nonmember supervision), overseen jointly with the Alabama State Banking Department. The CommerceOne/Green Dot Bank restructuring — requiring simultaneous Federal Reserve, Alabama, and Utah banking-department approval — and a new federal executive order on Reserve Bank account access are the state's most significant live settlement-access developments.", "findings": [ { "finding": null, "instrument_type": "Regulatory approval process", "source": "https://www.sec.gov/Archives/edgar/data/0001386278/000114036126026125/ef20076604_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/0001386278/000114036126026125/ef20076604_ex99-1.htm", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Regulatory body (Alabama State Banking Department)", "source": "https://banking.alabama.gov/about/", "source_url": "https://www.whitehouse.gov/presidential-actions/2026/05/integrating-financial-technology-innovation-into-regulatory-frameworks/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Market structure (DOJ Antitrust comment, BGR-05)", "source": "https://www.justice.gov/atr/page/file/1330151/dl?inline=", "source_url": "https://www.whitehouse.gov/presidential-actions/2026/05/integrating-financial-technology-innovation-into-regulatory-frameworks/", "source_tier": "1", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "Federal executive order (EO 14405)", "source": "https://www.whitehouse.gov/presidential-actions/2026/05/integrating-financial-technology-innovation-into-regulatory-frameworks/", "source_url": "https://www.whitehouse.gov/presidential-actions/2026/05/integrating-financial-technology-innovation-into-regulatory-frameworks/", "source_tier": "1", "retrieved_at": "2026-07-05" } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-alabama/#w13-commercial-intelligence-fintech", "standing_position": "Within the trailing twelve months, Alabama's payments-adjacent commercial activity centers on the CommerceOne Financial/Green Dot Bank bank-fintech restructuring, continued community-bank consolidation (CBS Banc-Corp/TAG Bancshares), and a minority growth investment into Alabama-linked payments platform Fullsteam Holdings.", "findings": [ { "finding": null, "instrument_type": "commercial_event: M&A", "source": "https://bankingjournal.aba.com/2025/11/bank-acquisitions-announced-in-three-states-8/", "source_url": "https://bankingjournal.aba.com/2025/11/bank-acquisitions-announced-in-three-states-8/", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "commercial_event: M&A", "source": "https://bankingjournal.aba.com/2025/11/bank-acquisitions-announced-in-three-states-8/", "source_url": "https://www.privsource.com/acquisitions/payments-fintech/state/alabama", "source_tier": "2", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "commercial_event: investment", "source": "https://www.privsource.com/acquisitions/payments-fintech/state/alabama", "source_url": "https://www.aamu.edu/about/inside-aamu/news/interdisciplinary-teams-to-present-real-world-digital-banking-prototypes.html", "source_tier": "3", "retrieved_at": "2026-07-05" }, { "finding": null, "instrument_type": "commercial_event: product", "source": "https://www.aamu.edu/about/inside-aamu/news/interdisciplinary-teams-to-present-real-world-digital-banking-prototypes.html", "source_url": "https://www.aamu.edu/about/inside-aamu/news/interdisciplinary-teams-to-present-real-world-digital-banking-prototypes.html", "source_tier": "3", "retrieved_at": "2026-07-05" } ] } ] }