Washington State and federal regulators are warning bankers about an organization in Puyallup, Wash., that allegedly has been operating a banking business without approval.

Washington State regulators issued a cease-and-desist order July 31 against Access Bank International Ltd. of the Pacific island of Nauru and its three top officers. The order instructed the organization to stop using the words "bank," "banking," or "banker" in its name or promotional materials or otherwise implying that it is a bank. The company was also ordered not to solicit or take deposits.

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