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IN THE MATTER OF: RELIANT ACCOUNT RELIANT ACCOUNT
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CONSENT ORDER |
WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part V of Chapter 668, Sections 36a-595 to 36a-612, inclusive, of the Connecticut General Statutes, “Money Transmission Act”;
WHEREAS, each Respondent is a California limited liability company with an office located at 1301 Dove Street #1030, Newport Beach, California;
WHEREAS, on November 1, 2012, Reliant entered into a Consent Order with the Commissioner to resolve the Commissioner’s allegation that Reliant engaged in the business of money transmission in Connecticut without a license, in violation of Section 36a-597(a) of the then applicable Connecticut General Statutes;
WHEREAS, as a result of a consumer complaint, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted a subsequent investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Respondents to determine if they had violated, were violating or were about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;
WHEREAS, as a result of such investigation, the Commissioner alleges that Respondents engaged in the business of money transmission in Connecticut without a license, in violation of Section 36a-597(a) of the then applicable Connecticut General Statutes;
WHEREAS, the Commissioner believes that such allegation would support the initiation of enforcement proceedings against each Respondent, including proceedings to issue a cease and desist order against each Respondent pursuant to Sections 36a-608(c) and 36a-52(a) of the Connecticut General Statutes and to impose a civil penalty upon each Respondent pursuant to Sections 36a-608(c) and 36a-50(a) of the Connecticut General Statutes;
WHEREAS, initiation of such enforcement proceedings would constitute a “contested case” within the meaning of Section 4-166(4) of the Connecticut General Statutes;
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
WHEREAS, the Commissioner and Respondents acknowledge the possible consequences of formal administrative proceedings, and each Respondent voluntarily agrees to consent to the entry of the sanctions imposed below without admitting or denying any allegation set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained herein;
WHEREAS, Respondents have ceased engaging in any business in Connecticut, including the alleged unlicensed money transmission business;
WHEREAS, Respondents specifically assure the Commissioner that the violation alleged herein shall not occur in the future;
AND WHEREAS, Respondents, through their execution of this Consent Order, voluntarily agree to waive their procedural rights, including a right to notice and an opportunity for a hearing as it pertains to the allegation set forth herein, and voluntarily waive their right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Respondents, through their execution of this Consent Order, consent to the Commissioner’s entry of a Consent Order imposing the following sanctions:
| 1. | No later than the date this Consent Order is executed by Respondents, Respondents shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Five Thousand Dollars ($5,000) as a civil penalty; |
| 2. | Respondents shall cease and desist from engaging in the business of money transmission in the future in Connecticut without a license, in violation of Section 36a-597(a) of the Connecticut General Statutes; and |
| 3. | No later than the date this Consent Order is executed by Respondents, each Respondent shall: (a) refund all fees paid to such Respondent by Connecticut residents for money transmission services through the date this Consent Order is issued by the Commissioner; and (b) provide satisfactory evidence of such refunds to Carmine Costa, Director, Consumer Credit Division, Department of Banking, 260 Constitution Plaza, Hartford, Connecticut 06103-1800, or carmine.costa@ct.gov. |
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
| 1. | The Sanctions set forth above be and are hereby entered; |
| 2. | Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Respondents based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against any Respondent based upon a violation of this Consent Order or the matters underlying their entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by any Respondent and reflected herein is subsequently discovered to be untrue; |
| 3. | Nothing in the issuance of this Consent Order shall adversely affect the ability of Respondents to apply for or obtain an original license or renewal license under Part V of Chapter 668, Sections 36a-595 to 36a-612, inclusive, of the Connecticut General Statutes; and |
| 4. | This Consent Order shall become final when issued. |
Issued at Hartford, Connecticut
this 28th day of September 2015. _______/s/_________
Jorge L. Perez
Banking Commissioner
I, Gregory A. Winters, state on behalf of Reliant Account Management, LLC, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Reliant Account Management, LLC; that Reliant Account Management, LLC agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Reliant Account Management, LLC voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
________/s/__________
Name: Gregory A. Winters
Title: President
Reliant Account Management, LLC
State of: California
County of: Orange
On this the 14th day of September 2015, before me, T. Maleksaeidi, the undersigned officer, personally appeared Gregory A. Winters who acknowledged himself to be the President of Reliant Account Management, LLC, a member managed/manager managed limited liability company, and that he as such Member, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself as President.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: Jun 13, 2019
I, Gregory A. Winters, state on behalf of Reliant Account Management Systems, LLC, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Reliant Account Management Systems, LLC; that Reliant Account Management Systems, LLC agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Reliant Account Management Systems, LLC voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
________/s/__________
Name: Gregory A. Winters
Title: President
Reliant Account Management Systems, LLC
State of: California
County of: Orange
On this the 14th day of September 2015, before me, T. Maleksaeidi, the undersigned officer, personally appeared Gregory A. Winters who acknowledged himself to be the President of Reliant Account Management Systems, LLC, a member managed/manager managed limited liability company, and that he as such Member, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself as President.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: Jun 13, 2019