HONOLULU – The state today said Hawai‘i Commissioner of Financial Institutions Nick Griffin has issued a cease-and-desist order against Maui Industrial Loan & Finance Company, Inc. (Maui Industrial) based upon Maui Industrial’s violation of the Hawai‘i Revised Statutes.

Maui Industrial is a nondepository financial services loan company licensed by the Division of Financial Institutions to make loans pursuant to HRS Chapter 412, Article 9. It is not authorized to take deposits or to borrow money from customers.

The order directs that Maui Industrial cease and desist holding, soliciting, or receiving any funds, deposits, investments, accounts, or other instruments, or borrowing money in violation of HRS §412:9-500, and immediately comply with the terms of its license and applicable law.