meta_id 3084444

On April 20, 2026, the Florida Office of Financial Regulation (OFR) issued a Final Order against Populus Financial Group, Inc., d/b/a Ace Cash Express (Case Number 120179), concluding an administrative enforcement action related to compliance violations under Chapter 560, Florida Statutes. The OFR conducted an examination covering the period from January 1, 2018 through March 31, 2020, identifying multiple violations by the money services business licensee (License Number FT20800094). The violations included: failure to file amendments disclosing legal action within 30 days; failure to maintain customer thumbprints for payment instruments valued at $1,000 or more; failure to maintain copies of acceptable personal identification; failure to accurately enter transaction information into the check cashing database; failure to include all required information in deferred presentment agreements and installment contracts; and failure to maintain proper documentation for deferred presentment transactions. Under the Stipulation and Consent Agreement approved by the OFR, Populus Financial Group agreed to pay an administrative fine of $7,075.00 and to cease and desist from future violations of Chapter 560, Florida Statutes and its implementing rules. The company acknowledged the findings without admitting or denying them. Jay Shipowitz, President, Chief Executive Officer, and Chairman of the Board, executed the agreement on behalf of the company. The Final Order constitutes final agency action and is subject to enforcement provisions under Chapters 560 and 120, Florida Statutes. Populus Financial Group waived its right to an administrative hearing and appeal in connection with this settlement.