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August 16, 2013 03:32 pm GMT
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 Illinios in March 2013, also for failing to obtain a license before opening up for operations.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/fMx7eiPKT3E/
Square Fined $507K In Florida For Operating A Mobile Payment Service Without A Money Transmitter License
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 Illinios in March 2013, also for failing to obtain a license before opening up for operations.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/fMx7eiPKT3E/
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