Regulatory Alerts2019-08-02
Added · Updated
Consent Order Regarding AvidXchange, Inc.
AvidXchange, Inc. must pay a $10,000 civil penalty and cease engaging in unsafe or unsound practices by using an unlicensed entity for money transmission in Connecticut. The company is required to transition all Connecticut customers to its own licensed money transmission platform within 45 days of receiving its license. This resolution waives Avid's right to a hearing and judicial review while allowing it to proceed with its pending license application under specific disclosure conditions.
Share