Florida Regulator Fines BYDcash $107K Over Alleged Unlicensed Lending
The Florida Office of Financial Regulation has ordered BYDcash, Incorporated, formerly known as BYDcash, LLC, to pay a $107,250 administrative fine over allegations that the company made consumer finance loans in the state without first obtaining the required license.
The action was finalized on September 10, 2026, through a consent agreement between BYDcash and the Florida regulator. The agreement resolves the licensing matter without the need for a formal administrative hearing.
Florida OFR Examines BYDcash Operations
The Florida Office of Financial Regulation examined BYDcash’s business records and operations to determine whether the company was complying with Chapter 516 of the Florida Statutes, which covers consumer finance lending in the state.
The examination reviewed activity from November 1, 2020, through November 30, 2025.
Following that review, the regulator found that BYDcash had engaged in consumer finance lending without first obtaining the license required under Section 516.02(1) of Florida law.
For purposes of the consent agreement, BYDcash neither admitted nor denied the regulator’s finding. Instead, the company agreed to resolve the matter under the terms set by the Office of Financial Regulation.
The agreement also states that the company waived its right to a formal administrative proceeding in connection with the matter.
Company Agrees to $107,250 Administrative Fine
As part of the resolution, BYDcash agreed to pay a $107,250 administrative fine to the Florida Office of Financial Regulation.
The company also agreed to comply with Chapter 516 and the related rules that apply to consumer finance businesses operating in Florida. The order requires BYDcash to avoid future violations of those requirements.
The settlement does not prevent the company from becoming licensed in the state.
According to the consent agreement, BYDcash had a pending application for a Florida consumer finance license. The Office of Financial Regulation agreed to approve that application and issue the license within one business day after the final order was entered.
That means the enforcement action addresses the regulator’s findings about the company’s earlier lending activity while also allowing BYDcash to move forward under a state-issued license.
Resolution Addresses Past Licensing Issue
The final order brings the regulatory matter to a close under the agreed terms.
Rather than continuing into a formal proceeding, BYDcash accepted the financial penalty and future compliance requirements while maintaining its position of neither admitting nor denying the regulator’s finding.
The case centers specifically on Florida’s licensing requirements for consumer finance lenders. The regulator’s action was based on its finding that BYDcash had conducted lending activity during the review period before securing the required license.
With the consent agreement now finalized, BYDcash must pay the administrative fine and follow Florida’s consumer finance rules going forward. OFR agreed to approve BYDcash’s pending consumer finance license application and issue the license within one business day after entry of the final order.
