Regulatory Alerts2019-10-04
Added · Updated
Consent Order Regarding Uphold HQ Inc.
Uphold HQ Inc. must pay a $10,000 civil penalty and $2,500 in back licensing fees to the State of Connecticut for engaging in unlicensed money transmission between April 1, 2016, and April 19, 2018. The company is ordered to cease and desist from conducting money transmission business in the state without a license. This resolution waives Uphold HQ Inc.'s right to a hearing or judicial review regarding these specific allegations, though the Banking Commissioner retains the right to enforce future violations of this order.
Share