Final Order — Money Services Business

Index: OFR 2026 - 221
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
POPULUS FINANCIAL GROUP, INC.,
D/B/ A ACE CASH EXPRESS,
Case Number: 120179
Respondent.
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 '2...\ "...i.--- day of April, 2026, in Tallahassee, Leon County, Florida.

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been furnished to Populus Financial Group, Inc., d/b/a Ace Cash Express, and Jay Shipowitz, through their attorney RB Ramsey by electronic mail at rbramsey@PopulusFinancial.com on this '2 J ~t y of April, 2026. 2 cial Regulation Post Offi Box 8050 Tallaha see, FL 32314-8050 Email: Agency.Clerk@flofr.gov Tel: (850) 410-9889

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
POPULUS FINANCIAL GROUP, INC.,
D/B/ A ACE CASH EXPRESS,
Case Number: 120179
Respondent.
STIPULATION AND CONSENT AGREEMENT
Exhibit A
The State of Florida, Office of Financial Regulation ("Office"), and POPULUS FINANCIAL GROUP, INC., d/b/a ACE CASH EXPRESS ("Respondent"), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:

1. Background. At all material times, Populus Financial Group, Inc., d/b/a Ace Cash
   Express, is and has been a money services business in the State of Florida, having been issued license number FT20800094. At all material times, Jay Shipowitz is and has been the President, CEO, and Chairman of the Board of Populus Financial Group, Inc., d/b/a ACE Cash Express. The Office conducted an examination (No. 101279) to ascertain Respondent's compliance with chapter 560, Florida Statutes, for the period of January 1, 2018 through March 31, 2020. In lieu of initiating a formal proceeding, the parties herein resolve the matters at issue.
2. Jurisdiction. The Office is the state agency charged with the administration and
   enforcement of chapter 560, Florida Statutes, and the rules promulgated thereunder. The Office has jurisdiction to bring this administrative action against Respondent pursuant to chapter 560, Florida Statutes.
3. Findings. For purposes of this Stipulation and Consent Agreement, Respondent
   neither admits nor denies the findings stated in this stipulation but consent to the Office making the following findings.

a) Respondent failed to file an amendment to its initial application form within thirty days after occurrence, to disclose legal action taken against licensee in 20 I 9, in violation of section 560.126(2), Florida Statutes; b) Respondent failed to maintain a thumbprint of the customer, taken by the licensee, for a payment instrument accepted and having a face value of$ I ,000 or more, in violation of section 560.3 I 0(2)( c ), Florida Statutes; c) Respondent failed to maintain copies of acceptable personal identification presented by the customers, in violation of section 560.310(2)(b ), Florida Statutes; d) Respondent failed to accurately enter required transaction information and failed to enter required transaction information into the check cashing database (CCDB), in violation of section 560.310(2)( d), Florida Statutes; e) Respondent failed to include all required information in the deferred presentment agreement, in violation of section 560.404(3)(a)-(h), Florida Statutes; f) Respondent failed to maintain copies of drawers' identification and/or any other documentation to verify drawers' identity in all deferred presentment transactions and verifiable means of identification for certain deferred presentment transactions, in violation of Rules 69V-560.707(1)(a) and 69V￾560.707(1)(i), Florida Administrative Code, and thereby section 560.114(1 )(a), Florida Statutes; g) Respondent failed to include all required information in the deferred presentment installment contracts, in violation of Rule 69V-560.904(l)(b), 2

Florida Administrative Code, and thereby section 560.114(1)(a), Florida Statutes.
4. 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, terms, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation, Respondent agrees to the following terms and conditions:
a. FUTURE COMPLIANCE. Respondent agrees that they shall cease and desist from future violations of chapter 560, Florida Statutes, and the rules promulgated thereunder, and comply with all the provisions of chapter 560, Florida Statutes, and the rules promulgated pursuant thereto. b. ADMINISTRATIVE FINE. Respondent agrees to pay the Office an administrative fine in the amount of Seven Thousand Seventy-five Dollars ($7,075.00), to be paid at the time of the execution and delivery of this 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" and shall be sent to the attention of Agency Clerk - c/o Debra H. Pierce, Post Office Box 8050, Tallahassee, Florida 32314-
8050. Respondents acknowledge and agree that in accordance with section 215.31, Florida
Statutes, regarding the deposit of monies, (i) the tendered fine or settlement check may be deposited in advance of full execution or acceptance of the Stipulation and Consent Agreement; 3

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.
5. Final Order. Respondent consents to the entry of a Final Order, which incorporates
the terms of this Stipulation and Consent Agreement. Respondent understands and agrees 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. If 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 560 and 120, Florida Statutes.
6. Waiver. By Respondent's consent to the entry of a Final Order with respect to this
proceeding, Respondent waives:
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 term, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order.
7. Releases. Upon full execution of this Stipulation and Consent Agreement,
Respondent waives, releases, and forever discharges the Office and its agents, representatives, and 4

employees from all causes of action, in law or in equity, which Respondent may have arising out of this matter. The Office accepts this release and waiver by Respondent on behalf of itself, its agents, representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.
8. Failure to Comply. Respondent acknowledges, concurs, and stipulates that
Respondent's 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 560, Florida Statutes. Such non￾compliance may result in the issuance of an emergency cease and desist order. However, nothing herein shall be construed to limit Respondents' right to contest any finding or determination of non-compliance.
9. 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 entry of the Final Order adopting this Stipulation and Consent Agreement.
10. Severabilitv. 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.
11. 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. 5

12. Entire Agreement. This Stipulation and Consent Agreement represents the entire
    agreement by and between Respondent and the Office. Any alterations, variations, 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 Respondents 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 Respondents execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below. [this space intentionally blank with signatures appearing on the following page] 6

POPULUS FINANCIAL GROUP, INC., d/b/a ACE CASH EXPRESS:
Date:_ '-{_ - 7- U ___ _
Name: Jay Shipowitz Title: President, CEO. Chairman of the Board State of Texas ----- - County of _,D...,a ... l ... la....s __ _ Jay Shipowitz, as President, CEO and Chairman of the Board of Populus Financial Group, Inc., d/b/a Ace Cash Express, BEFORE ME by means of I ) phvsicaJ presence or pq 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!!! day of A ril _ , 2026. 4 l'IOtary ID #12483BOU 4 • Kw. OEA.t4H COOK PEN.l 1 My eom,nmron £,(pifft F,i,,uary 26, ion ____ ,, ______ _ Notary Public Check the appropriate box:
Personally known li5]
OR Produced ldentification D
Type of identification produced D Driver's License D Passport D Other (Do not include ID number) OFFICE OF FINANCIAL REGULATION Gregory C. Oaks, Director Division of Consumer Finance 7 4/20/2026 Date: _________ __ _