Household Appliances
Speed QueenAbout
Important information
- Additional Info:Speed Queen is headquartered in Ripon, Wisconsin.
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Gov. Action
January 10, 2023 The following describes a Consent Order that has been formally brought by a government agency. The Department of Financial Protection and Innovation alleges, and charges as follows:
Under California Code of Regulations, Title 10, Section 1422.4 (Regulation 1422.4), which went into effect on October 1, 2021,all CFL licensees were required to transition to the Nationwide Multistate Licensing System and Registry (NMLS) by December 31, 2021. On December 16, 2021, Complainant extended the deadline to transition to NMLS to March 15, 2022. On March 7, 2022, Complainant again extended the deadline to transition to NMLS to March 31, 2022.Complainant provided notice of this requirement to Respondent - via email to the Designated Email Address of each CFL licensee on July 20, 2021, September 16, 2021, October 14, 2021, November 8, 2021, and December 16, 2021. Complainant also provided notice via email to each CFL licensee that had not yet transitioned to NMLS, including Respondent, on March 7, 2022, and again via email and mail on March 28, 2022. Complainant provided further notice of this requirement over the telephone - Complainant made at least two calls to the designated telephone number provided by each CFL licensee, including Respondent - between February 1 and March 15, 2022.
Complainant determined that Respondent was in violation of Regulation 1422.4 and
had not transitioned management of its CFL license to NMLS as of July 22, 2022. Accordingly, Complainant issued a Citation on that date pursuant to Financial Code section 22707.5, subdivision (a). The Citation included an order to correct the violation and an order to pay an administrative fine in the amount of $2,500.00 to the Commissioner by September 20, 2022.Complainant served the Citation on Respondent via certified mail on July 22, 2022 and by electronic mail at Respondent's Designated Email Address on September 27, 2022. To date, Respondent has neither complied with the order to correct the violation by transitioning its license to NMLS.
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