Eli Polanco, founder and CEO of Nivelo, shares his expertise on the ramifications of the Money Transmitter Modernization Act on payroll processing. He discusses the complexities and increased operational costs stemming from varying state regulations. The conversation delves into the crucial partnerships between payroll providers and banks in ensuring timely payments and compliance with tax regulations. Additionally, Eli predicts a trend toward industry consolidation due to heightened regulatory pressures, raising concerns about stifled competition and innovation in the payroll sector.