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Reliant Account Management Fined by Connecticut and Gets Second Chance

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The State of Connecticut recently fined Reliant Account Management (RAM) for operating in the state without a money transmitter license. A consent order entered into by Gregory A. Winters agreed to pay a $5,000 civil penalty and to “cease and desist from engaging in the business of money transmission in the future in Connecticut without a license.” The company also agreed to “refund all fees paid” to RAM by Connecticut residents for money transmission services.”

Of course now that this matter has been settled, RAM can apply for the correct license. – Source


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