Regulatory Alerts2026-04-17
Added · Updated
Final Order — 137531 (Formerly 120559b)
The Florida Office of Financial Regulation issued a Final Order approving a Settlement Stipulation and Consent Agreement with Stephen Cheng, the former Chief Compliance Officer and interim CEO of Wyre Payments, Inc. The order resolves allegations that Wyre violated Florida money transmitter statutes by failing to maintain required surety bonds and financial audit reports. As part of the settlement, Cheng agreed to pay a $4,500 administrative fine and comply with future licensing disclosure requirements while waiving his right to an administrative hearing.
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