WV DFI Administrative Actions

Equity One Relinquishes WV License and Ceases Lending Activities

Equity One of West Virginia, Inc. has voluntarily relinquished its consumer lender license and ceased all lending activities in West Virginia, as per an agreed order with the Division of Banking. This action follows an examination that noted apparent violations of state and federal law.

Ultralight FS, Inc. License Revoked by Consent Order

The West Virginia Division of Financial Institutions has revoked the money transmitter license of Ultralight FS, Inc. (formerly Obopay, Inc.) via a consent order. The revocation stems from serious violations of state and federal money transmission laws discovered during an examination.

Budget Finance Co. Ordered to Reopen Business

The West Virginia Division of Financial Institutions has ordered Budget Finance Company to reopen its business by November 30, 2015. The company was found to have closed indefinitely without authorization, potentially violating licensing regulations.

WV DFI Approves Bank Acquisition

The West Virginia Division of Financial Institutions has approved an application by Citizens Bank of West Virginia, Inc. to acquire Miners and Merchants Bank. This approval marks the final step in the acquisition process.