Financial Compliance

OFR Settles with Binance.US Money Transmitter in Florida

The Florida Office of Financial Regulation (OFR) has reached an agreement with BAM Trading Services, Inc. (Binance.US), a licensed money transmitter. This settlement addresses procedures to protect Floridians and the marketplace, following a prior multi-state settlement related to a felony conviction.

ESMA Opinion on European Salmon Futures Position Limits

The European Securities and Markets Authority (ESMA) has issued an opinion on position limits for the European Salmon Futures contract traded on Euronext. This opinion provides guidance on the appropriate limits to prevent market abuse and ensure orderly trading conditions.

Order to Cease and Desist ATG Credit, LLC

The Massachusetts Division of Banks has issued a Temporary Order to Cease and Desist against ATG Credit, LLC, a licensed debt collector. The order stems from ATG Credit's alleged failure to provide access to its books and records for examination, a violation of state regulations.

Anthony Jacob Soss - Mortgage Loan Originator Violations Consent Order

The Massachusetts Division of Banks has issued a consent order against Anthony Jacob Soss for mortgage loan originator violations. Soss agreed to the order without admitting guilt, waiving his right to a hearing. The order stems from alleged violations related to continuing education requirements and adherence to the Nationwide Multi State Licensing System & Registry (NMLS) Rules of Conduct.

Wise US, Inc. Multistate Consent Order for AML/CFT Violations

Wise US, Inc. has entered into a multistate consent order with several state money transmission regulators due to violations of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) programs. The order addresses deficiencies found in a multi-state examination, including issues with suspicious activity reporting and transaction monitoring.

Division of Banks v. Marla Taher Abdulnoor - Consent Order

The Massachusetts Division of Banks has issued a consent order against Marla Taher Abdulnoor, a licensed mortgage loan originator. The order stems from alleged failure to disclose a material fact in connection with her NMLS disclosures, following a prior order from the FDIC. Abdulnoor has agreed to refrain from all mortgage loan originator activities in Massachusetts.

Andy Market Corporation Ordered to Cease Unlicensed Check Cashing

The Massachusetts Division of Banks issued a Cease Directive to Andy Market Corporation for engaging in unlicensed check cashing activities. The directive orders the company to stop these operations and pay applicable fees, citing violations of state laws and regulations. The action stems from an examiner's observation of unlicensed check cashing and signage indicating illegal fees.

CT Dept of Banking v. Omnipoint Management Solutions LLC - Enforcement Action

The Connecticut Department of Banking has issued a Notice of Intent to Issue an Order to Cease and Desist and Impose Civil Penalty against Omnipoint Management Solutions LLC. The company, which is not licensed in Connecticut, is accused of violating consumer collection agency laws through harassing calls to a hospital's emergency line.

Connecticut Orders Set Forth LLC to Cease Unlicensed Debt Adjustment

The Connecticut Department of Banking has issued an order to Set Forth LLC to cease and desist from unlicensed debt adjustment activities. The order also intends to impose a civil penalty and requires restitution to consumers, following similar actions in Pennsylvania and Oregon.

Consent Order: Banta and First Bank Mortgage Inc.

The Connecticut Department of Consumer Protection issued a consent order against Meera Banta and First Bank Mortgage, Inc. (d/b/a Money Tree) for alleged violations of real estate and mortgage lending laws. The order addresses improper fee structures and disclosures related to mortgage loans for residential property sales.