Final Order — Consumer Finance

Index: OFR 2026 - 439
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION

• , . / OOCKET£D '
  I 9/1Q/2Q26
  EGAL
  In Re:
  BYDCASH, IN CORPORA TED
  F/KJA BYDCASH, LLC,
  Case Number: 138058
  Petitioner.
  FINAL ORDER
  This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:

1. The Office has jurisdiction over the subject matter of this case and the parties
   hereto.
2. The entry of this Final Order concludes the above-referenced matter.
   ORDERED:
   A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law. B. The parties shall comply with all terms of the Stipulation and Consent Agreement. DONE and ORDERED this (efo. day of September, 2026, in Tallahassee, Leon County, Florida.

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order was furnished to BYDcash, Incorporated f/k/a BYDcash, LLC by U.S. Mail to 230 North Serenta Drive, Suite 711, Ponte Vedra Beach, Florida 32082 and by electronic mail to eshusted@bydcash.com on this I o-r~ ay of September, 2026. tion 2314-8050 ncy.Clerk@flofr.gov Tel: (850) 410-9889

Exhibit A
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
BYDCASH, INCORPORATED
F/K/A BYDCASH, LLC,
Case Number: 138058
Petitioner.
STIPULATION AND CONSENT AGREEMENT
TI1e State of Florida, Office of Financial Regulation ('"Office"), and BYDCASH, .INCORPORATED, F/K/A BYDCASH, LLC ("Petitioner"), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:
Background. The Office conducted an examination (No. 133534) of Petitioner's business records and operations to ascertain compliance with chapter 516, Florida Statutes, for the period of November 1, 2020, through November 30, 2025. At all times material, Erik Shusted is and has been the Chief Administrative Officer and Corporate Secretary of BYDcasb, Incorporated f/k/a BYDcash LLC, and he has been authorized by BYDcash, Incorporated f/k/a BYDcash LLC, to be the signatory to this Stipulation and Consent Agreement. In lieu of initiating a fonnal proceeding, the parties are herein resoJ ving the matters at issue. L Ju.risdiction. The Office is the state agency charged with the administration and enforcement of chapter 516, Florida Statutes, and the rules promulgated thereunder. The Office has jurisdiction to bring this administrative action against Petitioners pursuant to chapter 516, Florida Statutes.
2. Finding. For purposes of this Stipulation and Consent Agreement, Petitioners
neither admit nor deny, but consent to the Office making the following finding:

a) Petitioners failed to obtain a license before engaging in making consumer finance loans, in violation of section 516.02(1 ), Florida Statutes.
3. Terms and Conditions. The parties agree that the issues raised can be
expeditiously resolved without further litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, tenns, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing fmdings and in consideration of the Office's forbearance from further litigation, Petitioners agree to the following terms and conditions:
a. FUTURE COMPLIANCE. Petitioners agree that they shall cease and desist from future violations of chapter 516, Florida Statutes, and the rules promulgated thereunder, and comply with all the provisions of chapter 516, Florida Statutes, and the rules promulgated pursuant thereto. b. ADMINISTRATIVE FINE. Petitioners agree to pay the Office an administrative fme in the amount of One Hundred Seven Thousand Two Hundred Fifty Dollars ($107,250.00), to be paid at the time of the execution and delivery ofthis Stipulation and Consent Agreement. This administrative fine shall be submitted in the form of a wire, cashier's check or money order made payable to "Office of Financial Regulation ". Such payment shall reference Ca~e Number 138058 and shall be sent to the attention of Agency Clerk - c/o Carrie S. Franz, Post Otlice Box 8050, Tallahassee, Florida 32314-8050. Petitioners acknowledge and agree that in accordance with section 215 .31, Florida Statutes, regarding the deposit of monies, (i) the tendered fme or settlement check may be deposited in advance of full execution or acceptance of

the Stipulation and Consent Agreement; and (ii) such deposit shall not be construed as a final acceptance of the Stipulation and Consent Agreement absent full execution thereof and entry of a Final Order adopting same.
c. LI CENSURE. The Office shall approve Petitioner's consumer finance application
and issue the license within one business day of the date of the Final Order adopting this Stipulation and Consent Agreement.
4. Final Order. Petitioners consent to the entry of a Final Order, which incorporates
the terms of this Stipulation and Consent Agreement. Petitioners understand and agree that this Stipulation and Consent Agreement is subject to the final approval of the Office of Financial Regulation and the entry of the Final Order adopting such Agreement. Jn the eveni that the Final Order is not entered, this Stipulation and Consent Agreement shall be null and void. The Final Order incorporating this Stipulation and Consent Agreement constitutes final action by the Office for which the Office may seek enforcement pursuant to the provisions of chapters 516 and 120, Florida Statutes.
5. Waiver. By Petitioners' consent to the entry of a Final Order with respect to this
proceeding, Petitioners waive:
a) Any right to separately stated Findings of Fact and Conclusions of Law; b) Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes; c) Any right to an administrative hearing or issuance of a Recommended Order pursuant to chapter 120, Florida Statutes; and d) Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida

Statutes) the validity of any tenn, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order.
6. Releases. Upon full execution of this Stipulation and Consent Agreement,
Petitioners waive, release, and forever discharge the Office and its agents, representatives, and employees from any and all causes of action, in law or in equity, which Petitioners may have arising out of this matter. The Office accepts this release and waiver by Petitioners on behalf of itself, its agents, representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.
7. Failure to Comply. Petitioners acknowledge, concur, and stipulate that Petitioners'
failure to comply with any of the terms, obligations, and conditions of this Stipulation and Consent Agreement, and the Final Order adopting it, is a violation of the written agreement and the Final Order entered pursuant to chapters 120 and 516, Florida Statutes. Such non-compliance may result in the issuanc.:c of an emergency cease and desist order. However, nothing herein shal I be construed to limit Petitioners' right to contest any finding or determination of non-compliance.
8. Attorney's Fees. Each party herein shall be solely responsible for its separate costs
and attorney's fees incurred in the prosecution, defense, or negotiations in this matter up to and including the ently of the Final Order adopting this Stipulation and Consent Agreement.
9. Severability. The parties agree that if any provision of this Stipulation and Consent
Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given effect without the invalid provision, and to this end, the provisions of this Stipulation and Consent Agreement are declared severable.
10. Counterparts. This Stipulation and Consent Agreement may be executed in any
number of counterparts, and by the parties in separate counterparts, each of which will be deemed

to be an original but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.
11. Entire A2reement. This Stipulation and Consent Agreement represents the entire
agreement by and between Petitioners and the Office. Any alterations. va1iations, changes, modifications, or waivers of the provisions hereof shall be valid only when they have been reduced to writing, duly signed by the Office and Petitioners hereto, attached to the original of this Stipulation and Consent Agreement, and subject to the approval of the Office. WHEREFORE, in consideration of the foregoing, the Office and Petitioners execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below. [this space intentionally left blank with signatures appearing on the following page]

BYDCASH, INCORPORATED Fl.KIA BYDCASH, LLC:
(Signature)
Name: Erik Shusted
State of 6) fl - ---'----'-------
County of f:v Ll Q N
Title: Chief Administrative Officer and
Corporate Secretary
E1ik Shusted, as Chief Administrative Officer and corporate Secretary of BYDcash, Incorporated, f/k/a BYDcash, LLC BEFORE ME by means o@physical presence or □ online notarization, has sworn ( or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this !l"' J, day of $e ~ k l"t\b-, r , 2026. Notary Public Check the appropriate box:
Personally known D
OR Produced Identification Q-"
Type of identification produced ~ver's License D Passport D Other ___ ___ _ (Do not include ID nwnber) OFFICE OF FINANCIAL REGULATION ~$akf~£::v Date: __ 91_9_12_0_2_6 ____ _ Division of Consumer Finance