Indirect MSB

[Melanie Prickett]

Reaching out for feedback on banking an “indirect MSB” – We do not currently Bank MSBs. An existing business customer is considering renting out a section of their store to a “check casher franchise”. Our customer claims it would be completely separate, operating as a separate entity.

Due to the liability, my initial decision would be to close the relationship should they move forward with allowing an MSB to operate out of their store. I appreciate all feedback – Thoughts?

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