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A comment on Balanced (YC W11) Adds Bank Payments to its P2P Payments Platform. Parent comment

Re:Balanced (YC W11) Adds Bank Payments to its P2P Payments ... by flynnwynn on Thursday February 28, 2013 @01:07PM (#5299952)
Are you saying this service is illegal without the money transmission license?
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Re:Balanced (YC W11) Adds Bank Payments to its P2P Payments ... by thinkcomp on Thursday February 28, 2013 @01:08PM (#5299955)
Yes I am--not to pick on them though. They are one startup of many and if everyone pretends it's not an issue then the law will never get fixed.

http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin...

Assembly Bill 786 is about to make it a lot worse.

http://www.leginfo.ca.gov/cgi-bin/postquery?bill_number=ab_7...

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