State Banking

Louisiana OFI Sets Loan Principal Balance Limits for 2025-2026

The Louisiana Office of Financial Institutions (OFI) has published the maximum outstanding principal balance limits for deferred presentment transactions and small loans for the 2025-2026 period. These limits, set at $720.00 for deferred presentment and $360.00 for small loans, are effective from September 1, 2025, to August 31, 2026.

RBC Capital Markets, LLC - Consent Order

The Vermont Department of Financial Regulation has issued a consent order against RBC Capital Markets, LLC. The order addresses violations related to the firm's conduct and requires specific actions and potential penalties.

Arque Advisors, LLC - Consent Order

The Vermont Department of Financial Regulation issued a consent order against Arque Advisors, LLC for alleged violations of securities laws. The order requires Arque Advisors to cease and desist from certain activities and pay a settlement amount.

Insurance Bulletin on Rating Disabled Medicare Supplement Policyholders

The Vermont Department of Financial Regulation has revised Insurance Bulletin #208 concerning the rating of disabled Medicare supplement policyholders when they turn 65. The revision updates statutory references but maintains substantive requirements.

Binance.US Consent Order - Cease Money Transmission in North Dakota

The North Dakota Department of Financial Institutions has entered into a Consent Order with BAM Trading Services, Inc. d/b/a Binance.US. Under the order, Binance.US will cease all money transmission activities in North Dakota and its license will be terminated.

Order Denies Trust Company of the Dakotas Organization Certificate

The North Dakota Department of Financial Institutions has denied the application for an organization certificate for Trust Company of the Dakotas. The company is therefore not authorized to transact business as a trust company in the state.

ND DFI Issues Cease and Desist Order to BHG Financial LLC

The North Dakota Department of Financial Institutions (DFI) issued a cease and desist order against BHG Financial LLC for conducting unlicensed money brokering activities and engaging in deceptive practices. The DFI also denied BHG's license application and imposed $7.1 million in civil money penalties.

ND DFI Joins $80M Cash App Enforcement Action

The North Dakota Department of Financial Institutions, along with 48 other state agencies, has joined a multistate settlement with Block Inc. and its Cash App service. Block Inc. will pay an $80 million penalty to resolve violations of Bank Secrecy Act and anti-money laundering laws.

ND DFI Reaches Agreement with Sigue Corp. Over Customer Obligations

The North Dakota Department of Financial Institutions (DFI) has reached a final agreement with money transmitter Sigue Corp. and its owner for failing to fulfill customer obligations and maintain adequate financial standing. The agreement results in the surrender of Sigue's and GroupEx's money transmitter licenses and restricts the owner's future involvement in the industry.

Missouri Division of Finance Personnel Announcement

The Missouri Division of Finance announced the promotion of Bart Stanley to Deputy Commissioner. Stanley has over 34 years of bank regulatory experience and will continue his Chief Examiner duties until a replacement is named. This notice details the division's oversight responsibilities.