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 corporation 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 of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, 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 or Regulations within the jurisdiction of the Commissioner;

WHEREAS, as a result of such investigation, on January 18, 2013, the Commissioner, acting pursuant to Sections 36a-587(a) and 36a-587(a)(4) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, Section 36a-52(a) of the Connecticut General Statutes and Section 36a-50(a) of the Connecticut General Statutes, as amended by Public Act 12-96, 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 an October 2, 2011, Report of Examination (“ROE”) renders the Commissioner unable to determine that Respondent is in all respects properly qualified and of good character and granting such license would be in the public interest;

WHEREAS, the Notice also alleged that Respondent’s failure to timely provide the Commissioner with a detailed report of the corrective action taken as a result of the ROE causes Respondent to demonstrate incompetency or untrustworthiness to operate as a licensed check cashing service;

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 ROE constitutes a failure of Respondent to fully cooperate with the Commissioner, in violation of Section 36a-17(d) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96;

WHEREAS, on January 22, 20132, the Notice was mailed by certified mail, return receipt requested, to Respondent (Certified Mail Nos. 70112000000247315706) and its agent (Certified Mail No. 70112000000247315713);

WHEREAS, on January 23, 2013, Respondent and its agent each received the Notice, and on January 25, 2013, the Commissioner received a request for hearing, which was scheduled for March 14, 2013;

WHEREAS, on March 13, 2013, Respondent withdrew its request for a hearing;

WHEREAS, on April 2, 2013, Respondent’s authorized agent surrendered Respondent’s check cashing service license in Connecticut 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, the Commissioner ORDERS the following: 

Issued at Hartford, Connecticut
this 5th day of April 2013.                 ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner

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


Frank B. Velardi, Jr., Esq.
LaSala, Walsh, Wicklow & Velardi, LLC
P. O. Box 1302
New Haven, Connecticut 06505-1302

Administrative Orders and Settlements