International Financial Corp.; On 8/6/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from International Financial Corp. The petition sought a declaratory statement from the Office on ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by International Financial Corp. on August 6, 2018. The following is a summary of the agency's declination of the petition: On 8/6/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from International Financial Corp. The petition sought a declaratory statement from the Office on whether its proposed business model (of collecting checks in Israel that are made payable to American citizens who are retired abroad. These checks are drawn on American banks and are typically retirement pension checks or social security checks. The checks are then mailed to the United States where they are deposited in an American bank in the state of Florida for immediate clearance.) falls under the Florida Money Transmitter Statute, Chapter 560, Florida Statutes. On 11/5/2018, the Florida Office of Financial Regulation issued a Final Order on Petition for Declaratory Statement. The Petition filed by International Financial Corp. is DENIED. A declaratory statement is not presently available to Petitioner because the facts provided in the Petition are not clearly identified or delineated. Any further analysis regarding the Petition is unnecessary, therefore, the Office makes no determination regarding the merits of Petitioner's arguments relating to this issue.

A copy of the Order Declining of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail]. Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].