WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part XII of Chapter 669, Sections 36a-800 to 36a-810, 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);

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 APM Financial 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 September 14, 2010, the Commissioner, acting pursuant to Section 36a-802(b) of the 2010 Supplement to the General Statutes, Section 36a-52(b) of the Connecticut General Statutes, Sections 36a-804(a) and 36a-804(a)(3) of the Connecticut General Statutes, and subsections (a) and (b) of Section 36a-51 of the 2010 Supplement to the General Statutes, and Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist,  Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (collectively “Notice”) against APM Financial, which Notice is incorporated by reference herein;

WHEREAS, the Notice alleged that APM Financial, in violation of Section 36a-802(a) of the 2010 Supplement to the General Statutes, failed to maintain a surety bond that runs concurrently with the period of its license to act as a consumer collection in Connecticut from 2C South Gold Drive, Hamilton, New Jersey;

WHEREAS, on September 20, 2010, APM Financial received the Notice, and no request for a hearing was received by the Commissioner;

WHEREAS, on October 22, 2010, APM Financial filed with the Commissioner a replacement bond number 41196939 issued by Platte River Insurance Company, effective June 14, 2010;

WHEREAS, on October 25, 2010, APM Financial assured the Commissioner that it has not acted as a consumer collection agency in Connecticut during the period of August 18 to September 22, 2010;

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 agreed settlement, unless precluded by law;

WHEREAS, APM Financial voluntarily agrees to enter into this Settlement Agreement without admitting or denying any allegation contained in the Notice and set forth herein, and solely for the purpose of obviating the need for formal administrative proceedings concerning the allegation described above;

AND WHEREAS, APM Financial, through its execution of this Settlement Agreement voluntarily agrees to waive any rights to a hearing upon the allegation contained in the Notice and this Settlement Agreement, and waives the right to seek judicial review or otherwise challenge or contest the validity of this Settlement Agreement.

NOW THEREFORE, the Commissioner and APM Financial enter into this Settlement Agreement as follows:

IN WITNESS WHEREOF, the parties hereto have caused this Settlement Agreement to be executed by each of them or their duly authorized representatives on the dates hereinafter subscribed.

Dated at Hartford, Connecticut
this 1st day of December 2010.           ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner



I, Mary T. Weil, state on behalf of APM Financial Solutions, LLC, that I have read the foregoing Settlement Agreement; that I know and fully understand its contents; that I am authorized to execute this Settlement Agreement on behalf of APM Financial Solutions, LLC; and that APM Financial Solutions, LLC agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein.                                            

                                            By:  ________/s/_________
                                                   Name:  
                                                   Title:  
                                                   APM Financial Solutions, LLC


State of:  Pennsylvania

County of:  Bucks

On this the 23 day of November 2010, before me, Laura Nevada Deskiewicz, the undersigned officer, personally appeared Mary Theresa Weil, who acknowledged herself to be the Managing Member of APM Financial Solutions, LLC, a member managed/manager managed limited liability company, and that she, as such _____________________, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by herself as its _____________________.

In witness whereof I hereunto set my hand.

                                         ________/s/_________
                                         Notary Public / Commissioner of the superior Court
                                         Date Commission Expires:  Oct. 23, 2011

Administrative Orders and Settlements