| * * * * * * * * * * * * * * * * * * * * * * * * IN THE MATTER OF: TOWN AND COUNTRY | * * * * * * * * * * | CONSENT ORDER |
WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Sections 36a-655 to 36a-665, inclusive, of the Connecticut General Statutes contained in Part II of Chapter 669 of the Connecticut General Statutes, “Debt Adjusters and Debt Negotiation”;
WHEREAS, Town and Country is a corporation organized under the laws of Alabama with offices located at 2081 Columbiana Road, Birmingham, Alabama, and 13521 Old Highway 280, Suite 109, Birmingham, Alabama, and is not currently licensed to act as a debt adjuster in Connecticut;
WHEREAS, the Commissioner, through the Consumer Credit Division (“Division”) of the Department of Banking, conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Town and Country to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;
WHEREAS, on August 21, 2015, as a result of such investigation, the Commissioner, acting pursuant to Sections 36a-50(c),36a-52(a), 36a-50(a) and 36a-657(b) of the Connecticut General Statutes, issued an Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Order and Notice”) against Town and Country, which Order and Notice are incorporated herein by reference;
WHEREAS, on August 24, 2015, the Order and Notice was sent by certified mail, return receipt requested, to Town and Country (Certified Mail Nos. 70143490000235259664, 70143490000235259671, 70143490000235259688) and its registered agent (Certified Mail No. 70143490000235259695);
WHEREAS, on August 27, 2015, Town and Country received the Order and Notice and contacted the Division in an effort to resolve the allegation in the Order and Notice;
WHEREAS, the Commissioner alleged in the Order and Notice, with respect to the activity described therein, that Town and Country received money from a Connecticut debtor and disbursed a portion of such monies to creditors of such Connecticut debtor without the requisite license, in violation of Section 36a-656(a) 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 Town and Country desire to resolve the matters alleged in the Order and Notice and set forth herein;
WHEREAS, Town and Country voluntarily agrees to consent to the entry of the sanctions imposed below without admitting or denying any allegation contained in the Order and Notice or set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained in the Order and Notice or set forth herein;
WHEREAS, Town and Country herein represents to the Commissioner that it has not engaged in debt adjustment in this state since May 6, 2015, and that it has not entered into any debt adjustment contract or performed any debt adjustment services for a Connecticut debtor except as the Commissioner alleged in the Order and Notice;
WHEREAS, Town and Country specifically assures the Commissioner that the violation described in the Order and Notice and set forth herein shall not occur in the future;
WHEREAS, Town and Country agrees that the Order and Notice may be used in construing the terms of this Consent Order and agrees to the language of this Consent Order;
AND WHEREAS, Town and Country, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a notice and an opportunity for hearing as it pertains to the allegation contained in the Order and Notice and set forth herein, and voluntarily waives its rights to seek judicial review or otherwise challenge or contest the validity of this Consent Order.
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Town and Country, through its execution of this Consent Order, consents 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 Town and Country, Town and Country 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 One Thousand Six Hundred Dollars ($1,600) as back licensing fees; and |
| 2. | No later than the date this Consent Order is executed by Town and Country, Town and Country 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 Two Thousand Five Hundred Dollars ($2,500) as a civil penalty; and |
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 Town and Country based upon the allegation contained in the Order and Notice or set forth herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Town and Country based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Town and Country and reflected herein is subsequently discovered to be untrue; |
| 3. | Nothing in the issuance of this Consent Order shall adversely affect the ability of Town and Country to apply for or obtain renewal licenses under Sections 36a-655 to 36a-665, inclusive, of the Connecticut General Statutes, contained in Part II of Chapter 669 of the Connecticut General Statutes; and |
| 4. | This Consent Order shall become final when issued. |
Issued at Hartford, Connecticut
this 6th day of October 2015. _______/s/_________
Jorge L. Perez
Banking Commissioner
I, Eric Shears, state on behalf of Town and Country Acceptance Corporation, 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 Town and Country Acceptance Corporation; that Town and Country Acceptance Corporation agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Town and Country Acceptance Corporation voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
By: ________/s/___________
Name: Eric Shears
Title: President
Town and Country Acceptance Corporation
State of: Alabama
County of: Shelby
On this the 22nd day of September 2015, before me, Elizabeth Green, the undersigned officer, personally appeared Eric Shears, who acknowledged himself/herself to be the President of Town and Country Acceptance Corporation, and that he/she as such President, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself/herself as President.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: 1/18/16