OFR Issues 14 Immediate Final Orders
01/07/2022
Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that 14 immediate final orders were issued against certain purported entities for marketing banking services to the public without holding an approved Florida bank charter. These actions were taken to protect Florida consumers from potential financial harm related to unauthorized banking activities that the entities claimed they performed. The orders require Ledge Community Credit Union, Fedro Bank, US Collector Bank, REIT Financial Bank, Swiss Capital Plus Bank, Profitary Financial Bank, Skyswift Bank, Perics Financial Bank, Nelz Bank, Levential Financial Bank, Figs Financials, Fedrox Financial Bank, Equitial Bank, and Anz Bank to immediately cease and desist all unauthorized banking activity.
OFR Commissioner Russell C. Weigel, III said, “The Office of Financial Regulation will continue to work to stop unauthorized banking activity in Florida. Thank you to the OFR team for their diligent efforts to protect Floridians from financial harm.”
The websites for each of these entities indicated that they were operating multiple locations in Florida. However, an OFR investigation revealed that the physical addresses provided on the websites did not belong to the entities.
Each of these entities made representations on their websites offering personal and business banking services that included checking and savings accounts, as well as various lending products. However, none of these entities are chartered financial institutions in Florida or licensed as an international branch, bank agency, international administrative office, international bank representative office, international trust company representative office, or qualified limited service affiliate.
None of these entities are registered with the Florida Department of State, Division of Corporations, as a lawful corporate entity authorized to do business in Florida.
Read the Ledge Community Credit Union immediate final order.
Read the Fedro Bank immediate final order.
Read the US Collector Bank immediate final order.
Read the REIT Financial Bank immediate final order.
Read the Swiss Capital Plus Bank immediate final order.
Read the Profitary Financial Bank, immediate final order.
Read the Skyswift Bank immediate final order.
Read the Perics Financial Bank immediate final order.
Read the Nelz Bank immediate final order.
Read the Levential Financial Bank immediate final order.
Read the Figs Financials immediate final order.
Read the Fedrox Financial Bank immediate final order.
Read the Equitial Bank immediate final order.
Read the Anz Bank immediate final order.
Floridians are encouraged to check the charter status of any new financial institution that they plan to do business with by contacting the OFR online at www.flofr.gov or by calling (850) 487-9687.
Floridians can also verify financial institutions by visiting the Federal Deposit Insurance Corporation (FDIC) Institution Directory and the National Credit Union Administration (NCUA) Research a Credit Union page.