State Regulators Order Sigue Corp. to Cease Money Transmission Activities

Today, the New Hampshire Banking Department ordered Sigue Corp. to cease engaging in money transmission activities in New Hampshire as the company can no longer responsibly serve customers due to its declining financial position. 

Sigue Corp. is a state-regulated money transmission company licensed in New Hampshire and 48 other states (NMLS ID 915912). Over the past several months, Sigue Corp. experienced significant financial deterioration.  The company failed to complete multiple money orders and transmissions and to maintain adequate net worth to cover outstanding liabilities.

The consent order requires the company to preserve and provide access to all books and records, including information on impacted customers.  States will use the company’s signed declarations to file bond claims on behalf of impacted customers.  The state surety bond claim process is designed to help make impacted consumers whole.

The States of Alabama, Alaska, Arizona, Arkansas, Colorado, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Maine, Maryland, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Washington, West Virginia, Wisconsin, the Commonwealths of Kentucky, Massachusetts, Pennsylvania, Puerto Rico, and the District of Columbia coordinated to issue this consent order.

For more information, please visit the CSBS website here.

Consumers who have been impacted or believe they may have been impacted should contact the Banking Department at nhbd@banking.nh.gov or (603)271-3561.