The State Organization Index provides an alphabetical listing of government organizations, including commissions, departments, and bureaus.
Top-requested sites to log in to services provided by the state
WHEREAS, NEW AGE FINANCIAL SERVICES, INC. d/b/a SOUTH EXCHANGE MONEY TRANSFERS, Miami, Florida (South Exchange 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 December 20, 2012, 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, South Exchange agrees to the issuance of this CONSENT ORDER (Order) by the Commissioner of Banks (Commissioner);
WHEREAS, an examination of South Exchange was conducted pursuant to General Laws chapter 169, section 10, as of October 11, 2011 (the examination) 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 (the Report) issued pursuant to the Division’s examination of South Exchange 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 South Exchange, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS:
Dated at Boston, Massachusetts, this 20th day of December, 2012
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts(Order terminated on September 16, 2015)