Originally Posted by
jimbo18
How certain are we that this does not violate any banking regulation or money laundering law? Any lawyers here who can provide some answers?
A 1099 should be the least of everyone's concerns. Doing this makes you a money services business which requires registration, fees, record keeping, reporting, etc. at the federal and state level.
http://www.fincen.gov/financial_inst...agentlist.html