IDFPR Orders Sigue Corp. to Cease Money Transmission Activities
ILLINOIS, April 18 - IDFPR Also Provides Route for Consumers Impacted by Sigue's Financial Deterioration
CHICAGO - The Illinois Department of Financial and Professional Regulation (IDFPR) has announced Sigue Corp. will cease to provide money transmission services in Illinois, as the company can no longer responsibly serve customers due to its declining financial position. Illinois joins 38 other states, along with Puerto Rico and the District of Columbia, in this consent order after Sigue failed to satisfy outstanding money transmission liabilities, violating state law.
Money Orders | Money Transmission |
233 transactions totaling $45,151* | 202 transactions totaling $63,123.43** |
*None has been refunded as of March 22, 2024
**$4,019.14 has been refunded as of March 22, 2024.
"This coordinated effort means consumers are protected across state lines and will be able to be assisted, no matter where they live," said IDFPR Secretary Mario Treto, Jr. "While an agreement has been reached nationally, Illinois has preserved its ability to take additional actions on consumers' behalf and will do so as investigations continue."
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