WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part IV of Chapter 668, Sections 36a-580 to 36a-589, inclusive, of the Connecticut General Statutes, “Check Cashing Services”, and Sections 36a-585-1, 36a-588-1, 36a-588-3 and 36a-588-4 of the Regulations of Connecticut State Agencies (“Regulations”);

WHEREAS, Respondent is a Connecticut limited liability company licensed to operate a main office general facility to engage in the business of cashing checks, drafts or money orders;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17(a) of the Connecticut General Statutes into the activities of Respondent to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes and Regulations within the jurisdiction of the Commissioner;

WHEREAS, as a result of such investigation, on August 15, 2013, the Commissioner, acting pursuant to Sections 36a-587(a) and 36a-587(a)(4), subsections (a) and (b) of Section 36a-51, and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Notice of Intent to Revoke Check Cashing Service License, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, the Notice alleged that Respondent’s failure to timely provide the Commissioner with a detailed report of the corrective action taken as a result of a September 12, 2012, Report of Examination (“Report of Examination”) renders the Commissioner unable to determine that Respondent is in all respects properly qualified and of good character and that the granting of such license would not be against the public interest.  Such failure would be sufficient grounds for the Commissioner to deny an application for a check cashing service license under Sections 36a-581(e)(1) and 36a-581(e)(5) of the Connecticut General Statutes, which would be sufficient grounds for the Commissioner to revoke Respondent’s check cashing service license pursuant to Section 36a-587(a) and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, the Notice also alleged that the failure of a Member and Owner of Respondent to timely provide the Commissioner with a detailed report of the corrective action taken as a result of the Report of Examination renders the Commissioner unable to determine that a member of Respondent is in all respects properly qualified and of good character and that the granting of such license would not be against the public interest.  Such failure would be sufficient grounds for the Commissioner to deny an application for a check cashing service license under Sections 36a-581(e)(4) and 36a-581(e)(5) of the Connecticut General Statutes, which would be sufficient grounds for the Commissioner to revoke Respondent’s check cashing service license pursuant to Section 36a-587(a) and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, the Notice additionally alleged that Respondent’s failure to timely provide the Commissioner with a detailed report of the corrective action taken as a result of the Report of Examination causes Respondent to demonstrate incompetency or untrustworthiness to act as a licensed check cashing service.  Such failure would be sufficient grounds for the Commissioner to revoke Respondent’s check cashing service license pursuant to Section 36a-587(a)(4) and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, the Notice further alleged that Respondent’s failure to timely provide the Commissioner with a detailed report of the corrective action taken as a result of the Report of Examination constitutes a failure by Respondent to fully cooperate with the Commissioner, in violation of Section 36a-17(d) of the Connecticut General Statutes.  Such violation forms the basis to issue an order to cease and desist pursuant to Section 36a-52(a) of the Connecticut General Statutes and impose a civil penalty pursuant to Section 36a-50(a) of the Connecticut General Statutes;

WHEREAS, on August 16, 2013, the Notice was mailed by certified mail, return receipt requested, to Respondent (Certified Mail No. 70020860000215459437) and its agent (Certified Mail No. 70020860000215459441);

WHEREAS, on August 19, 2013, Respondent’s agent received the Notice, and on August 21, 2013, Respondent’s agent requested a hearing on behalf of Respondent, which hearing is currently scheduled for October 22, 2013;

WHEREAS, on October 3, 2013, Respondent’s agent surrendered Respondent’s check cashing service license in Connecticut by certified mail to the Commissioner;

WHEREAS, Section 36a-583 of the Connecticut General Statutes provides, in pertinent part, that “[n]ot later than fifteen days after a licensee ceases to engage in this state in the business of cashing checks, drafts or money orders for consideration at a general facility or limited facility for any reason, including, but not limited to, a business decision to terminate operations in this state, license revocation, bankruptcy or voluntary dissolution, such licensee shall surrender to the commissioner in person or by registered or certified mail its license for each location in which such licensee has ceased to engage in such business”;

AND WHEREAS, Section 36a-51(c) of the Connecticut General Statutes provides, in pertinent part, that “[a]ny licensee may surrender any license issued by the commissioner under any provision of the general statutes by surrendering the license to the commissioner in person or by registered or certified mail . . . .  If, prior to receiving the license, . . . the commissioner has instituted a proceeding to . . . revoke . . . such license, such surrender . . . will not become effective except at such time and under such conditions as the commissioner by order determines”.

NOW THEREFORE, Commissioner ORDERS the following:

Issued at Hartford, Connecticut
this 7th day of October 2013.
                                                            ________/s/_________
                                                            Howard F. Pitkin
                                                            Banking Commissioner



This Order was mailed by certified
mail, return receipt requested, to
Respondent’s attorney
on October 8, 2013.

William L. Stevens, Esq.                       Certified Mail No. 7012 1010 0001 7317 4292
Slavin, Stauffacher & Scott LLC
P. O. Box 9
Watertown, CT 0679

Administrative Orders and Settlements