“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.”
Square Fined $507K In Florida For Operating Without A Money Transmitter License
- Post author:The Freedom Watch Staff
- Post published:August 18, 2013
- Post category:Network Archives
Tags: Alternative News, Bankocracy, CLibertyC, constitutional liberty coalition, Cost Of Doing Business, economic Trends, Entrepreneurship, for life and liberty, Land Of The Flea, regime uncertainty, Resistance, sound money, statism, technology, The Freedom Watch
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