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This Consent Order has been superseded and replaced by a revised Consent Order effective February 4th, 2015.
COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-204
In the Matter of
HODAN GLOBAL MONEY SERVICES, INC.
Foreign Transmittal Agency License No: FT3735
WHEREAS, HODAN GLOBAL MONEY SERVICES, INC., Minneapolis, Minnesota ("Hodan Global Money" or the "Corporation"), a licensed foreign transmittal agency under Massachusetts General Laws chapter 169 has been advised of its right to Notice and Hearing pursuant to General Laws chapter 169, section 13, and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER ("Consent Agreement") with representatives of the Division of Banks ("Division") dated July 20, 2010, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a foreign transmittal agency, Hodan Global Money agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, an examination/inspection of Hodan Global Money was conducted pursuant to General Laws chapter 169, section 10, as of February 8, 2010, to assess the Corporation's level of compliance with applicable state and federal laws, rules, regulations and regulatory bulletins governing the conduct of those engaged in the business of a foreign transmittal agency in the Commonwealth; and
WHEREAS, the Report of Examination/Inspection (the "Report") issued pursuant to the Division's examination/inspection of Hodan Global Money as of February 8, 2010 alleged substantial non-compliance with applicable state and federal statutes, rules, and regulations governing the conduct of those engaged in the business of foreign transmittal agency in the Commonwealth.
NOW COME the parties in the above-captioned matter, the Division and Hodan Global Money, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 20th day of July, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts