“A little more state-specific financial regulatory hot water for Square, the hot mobile commerce startup: it has been fined $507,000 by Florida’s Office of Financial Regulation for operating a payment service without a money transmission license. This looks like the second time that a U.S. state financial regulator has gone after the company, after Square was served with a cease and desist order in Illinois in March 2013, also for failing to obtain a license before opening up for operations. According to the Florida payment order (embedded below), the $507,000 fine covers over two years of operation, from February 2010 to November 2012.”
Related posts:
Support Your Local Slave-Catchers
Apple co-founder Wozniak: Snowden is a 'total hero'
Virgin Galactic “gearing up” for second powered SpaceShipTwo flight
Feinstein’s Assault Weapons Bill: Dead on Arrival
PayPal Urges Regulatory Reform
Sauerkraut Freedom
The Drug Warriors Cashing In on Pot Prohibition
Feds: 100+ Financial Institutions Working With Marijuana Businesses
Maxine Waters: EVERYONE in America Will Lose Their Job Because of Sequestration
Origami Robot Folds Itself Up, Does Cool Stuff, Dissolves Into Nothing
The NSA: And Who Will Watch the Watchmen?
Edward Snowden's Attorney Gives Interview To Russia Today
The 14 Most Ridiculous Things Police Bought With Asset Forfeiture
China dumped a huge amount of gold on the market and investors are spooked
Four States Advance Legislation To Block NDAA Indefinite Detention