Respondents have been properly notified regarding their right to an administrative hearing under Texas Finance Code Chapter 151 (Chapter 151) Respondents are currently represented in this proceeding by attorneys Bradley J. Aiken and F. John Podvin, Jr
The Commissioner has considered the matter and finds as follows:
Escrow Hill’s primary business is providing domain escrow services for internet transactions through its webpage located at EscrowHill’s website claims that “EscrowHill.com is an online escrow service that employs a staff of industry experienced individuals eager to assist you with your sale or purchase.”
Respondents were also ordered to confirm to the Department in writing, within seven days of the effective date of the order, that any pending transactions with Texas customers that were outstanding on the effective date of the Order had been completed.
Respondents shall configure the website EscrowHill.com to refuse customer registrations and transactions from persons located in Texas, and the website shall remain configured that way until such time as Respondents obtain the necessary license to conduct money transmission in Texas. Respondents shall confirm to the Department in writing, within 10 days of the effective date of this Order, that the configurations have been completed.
SourceRespondents will pay $30,000 to the Department as an administrative penalty under Texas Finance Code 151.707 for operating an unlicensed money transmission business in Texas and for violating Order No. 2014.
