Regulatory Alerts2022-02-11
Added · Updated
Consent Order Regarding Stockpile Gifts, Inc.
Stockpile Gifts, Inc. must cease unlicensed money transmission activities in Connecticut and pay a $10,000 civil penalty to the State of Connecticut. The order resolves allegations that the company violated the Money Transmission Act by conducting such transactions without a license since at least November 1, 2016. Stockpile waives its right to a hearing or judicial review and agrees to disclose the order on the NMLS platform, while the Banking Commissioner agrees to forego further enforcement action based on these specific allegations.
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