Regulatory Alerts2026-05-14
Added · Updated
Final Order — Motor Vehicle Retail Installment
The Florida Office of Financial Regulation issued a Final Order resolving an enforcement action against Navy Motors LLC and its sole owner, Cosme Bayardo Barrios, for engaging in unlicensed motor vehicle retail installment seller activity from March 2023 through February 2026. The parties entered into a Stipulation and Consent Agreement wherein the respondents paid a $1,500 administrative fine and agreed to cease and desist from future violations of Chapter 520, Florida Statutes. In exchange for this settlement and compliance, the Office approved the respondents' pending licensure application and issued the motor vehicle retail installment seller license within one business day of the order.
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