Money transmitter in New York

Statutory clock

90 days from filing, extendable with the applicant’s written consent

Banking Law § 642 says the superintendent shall approve conditionally or deny a money-transmitter application within ninety days from the filing. That period may be extended by the applicant’s written consent. The statute does not treat silence as approval. DFS also states that no application is complete until the department has every required item, document, and fee.

Clock starts: filing — but DFS will not treat the file as complete until all required items arrive. Deemed approval if silent: no / not stated in the cited section. Extendable: yes.