WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part XII of Chapter 669, Sections 36a-800 to 36a-814, inclusive, of the Connecticut General Statutes, “Consumer Collection Agencies”, and the regulations promulgated thereunder (Sections 36a-809-6 to 36a-809-17, inclusive, of the Regulations of Connecticut State Agencies) (“Regulations”);

WHEREAS, Aldous & Associates is a Utah limited liability company with an office located at 4625 South 2300 East, Suite 207, Holladay, Utah;

WHEREAS, Aldous & Associates was licensed to act as a consumer collection agency until its license expired on January 1, 2017;

WHEREAS, Aldous & Associates is not currently licensed to act as a consumer collection agency in Connecticut;

WHEREAS, on August 16, 2017, Aldous & Associates filed an application for a consumer collection agency license with the Commissioner through the Nationwide Multistate Licensing System and Registry (“NMLS”), which application is currently pending;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, has investigated and examined the activities of Aldous & Associates pursuant to Sections 36a-17 and 36a-801 of the Connecticut General Statutes 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, Aldous & Associates continued to conduct unlicensed consumer collection activity in Connecticut;

WHEREAS, as a result of such investigation and examination, the Commissioner alleges that Aldous & Associates acted as a consumer collection agency in Connecticut without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes;

WHEREAS, the Commissioner believes that such allegation would support the initiation of enforcement proceedings against Aldous & Associates, including, without limitation, proceedings to issue a cease and desist order against Aldous & Associates pursuant to Section 36a-804(b) of the Connecticut General Statutes and Section 36a-52(a) of the 2018 Supplement to the General Statutes, and impose a civil penalty of up to one hundred thousand dollars ($100,000) per violation upon Aldous & Associates pursuant to Section 36a-804(b) of the Connecticut General Statutes and Section 36a-50(a) of the 2018 Supplement to the 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, since January 1, 2017, the Commissioner has received at least two consumer complaints about Aldous & Associates;

WHEREAS, both the Commissioner and Aldous & Associates acknowledge the possible consequences of formal administrative proceedings, and Aldous & Associates voluntarily agrees to consent to the entry of the sanctions imposed below solely for the purpose of obviating the need for formal administrative proceedings concerning the allegation set forth herein;

WHEREAS, the Commissioner and Aldous & Associates now desire to resolve the matter set forth herein;

WHEREAS, Aldous & Associates represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls for timely and accurately applying for licensing and renewal licensing on NMLS;

WHEREAS, Aldous & Associates specifically assures the Commissioner that the violation alleged herein shall not occur in the future;

WHEREAS, Aldous & Associates acknowledges that this Consent Order is a public record and is a reportable event for purposes of the regulatory disclosure questions on NMLS, as applicable;

AND WHEREAS, Aldous & Associates, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a notice and an opportunity for a hearing as it pertains to the allegation set forth herein, and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.

CONSENT TO ENTRY OF SANCTIONS

WHEREAS, Aldous & Associates, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanctions:

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

Issued at Hartford, Connecticut
this 24th day of May 2018.                                  ______/s/__________
                                                                      Jorge L. Perez
                                                                      Banking Commissioner

I, Tyler Rice, state on behalf of Aldous & Associates PLLC d/b/a Aldous & Associates 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 Aldous & Associates PLLC d/b/a Aldous & Associates LLC; that Aldous & Associates PLLC d/b/a Aldous & Associates LLC agrees freely and without threat or coercion of any kind to comply with the sanctions entered herein; and that Aldous & Associates PLLC d/b/a Aldous & Associates LLC 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:  Tyler Rice
                                                                   Title:  President
                                                                   Aldous & Associates PLLC
                                                                   d/b/a Aldous & Associates LLC