The Nevada Financial Institutions Division (NFID) has ordered Sigue, a money transfer company, to cease all money transmission activities within the state. The decision comes after the NFID determined Sigue’s declining financial health could jeopardize its ability to serve customers responsibly.
According to a statement from the state, Sigue has experienced “significant financial deterioration” in recent months. This includes failing to complete money orders and transfers, and not maintaining sufficient net worth and permitted investments to cover outstanding debts. These actions violate Nevada’s money transmission laws.
“We collaborated with state agencies, including MTRA and CSBS, to take swift action and safeguard consumer funds,” said Nevada Financial Institutions Division Commissioner Sandy O’Laughlin.
The NFID is urging customers who believe they may be affected to contact their office at fidmaster@fid.state.nv.us or by phone at (702) 486-4120.
Credits: KOLOTV
Copyright 2024 775 Times, NV Globe. All rights reserved
- Nevada Prison Conditions Draw Sharp Criticism: Calls for Reform and Accountability Intensify - December 21, 2024
- Nevada’s Potential Expansion of Immigration Detention Raises Concerns Amid Political Divide - December 21, 2024
- Three Hospitalized in Henderson Three-Vehicle Crash - December 21, 2024