Sigue Corporation required to cease all money transfers across California under consent order ...Middle East

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Sigue Corporation required to cease all money transfers across California under consent order
SACRAMENTO, Calif. – The California Department of Financial Protection and Innovation (DFPI) announced Friday that it has entered a consent order requiring Sigue Corporation to cease all money transmissions in California. Sigue Corporation, a Sylmar-based money transmitter that operates across California, was issued the consent order due to its deteriorating financial conditions that render the company unable to meet its financial obligations detail the DFPI. California law requires all licensed money transmitters to maintain surety bonds or cash or securities to cover potential claims against the licensee by California consumers who have transactions unfulfilled by the entity. Th

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