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IN THE MATTER OF: JOSE HERNANDEZ ("Jose Hernandez") |
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SETTLEMENT AGREEMENT |
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;
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Jose Hernandez to determine if he had violated, was violating or was 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 Jose Hernandez, during the period of December 31, 2008 through September 14, 2009, engaged in the business of cashing checks, drafts and money orders for consideration at 65 Cedar Street, Norwalk, Connecticut, without obtaining a license to operate a general facility or a limited facility at such location, in violation of Section 36a-581(a) of the Connecticut General Statutes;
WHEREAS, the Commissioner believes that the unlicensed check, draft and money order cashing activity allegations would support initiation of enforcement proceedings against Jose Hernandez, including proceedings to issue a cease and desist order against Jose Hernandez pursuant to Sections 36a-587(b) and 36a-52(a) of the Connecticut General Statutes, and impose a civil penalty of up to one hundred thousand dollars ($100,000) per violation on Jose Hernandez pursuant to Sections 36a-587(b) and 36a-50(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 agreed settlement, unless precluded by law;
WHEREAS, both the Commissioner and Jose Hernandez acknowledge the possible consequences of formal administrative proceedings;
WHEREAS, Jose Hernandez voluntarily agrees to enter into this Settlement Agreement without admitting or denying any allegations set forth herein, and solely for the purpose of obviating the need for formal administrative proceedings concerning the allegations described above;
WHEREAS, Jose Hernandez, through his execution of this Settlement Agreement, voluntarily agrees to waive any rights to a hearing upon the allegations contained in this Settlement Agreement, and waives the right to seek judicial review or otherwise challenge or contest the validity of this Settlement Agreement;
AND WHEREAS, Jose Hernandez specifically assures the Commissioner that Jose Hernandez has not engaged in any unlicensed check cashing activity since September 14, 2009, and that the violation described herein shall not occur in the future.
NOW THEREFORE, the Commissioner and Jose Hernandez enter into this Settlement Agreement as follows:
| 1. | No later than date this Settlement Agreement is executed by Jose Hernandez, Jose Hernandez 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 Three Thousand Dollars ($3,000) as a civil penalty; |
| 2. | Jose Hernandez shall not engage in the business of cashing checks, drafts or money orders for consideration, except as an incident to the conduct of any other lawful business where not more than fifty cents ($.50) is charged for the cashing of such check, draft or money order, without obtaining a license to operate a check cashing general facility or limited facility for each location where such business is to be conducted; |
| 3. | Upon entry of this Settlement Agreement, this matter will be resolved and the Commissioner will not take any future enforcement action against Jose Hernandez based upon the allegations contained herein; provided that entry of this Settlement Agreement is without prejudice to the right of the Commissioner to take enforcement action against Jose Hernandez based on the allegations contained herein if any representation made by Jose Hernandez in this Settlement Agreement is subsequently discovered to be untrue or if Jose Hernandez is not fully complying with any term or condition stated herein; |
| 4. | Nothing in this Settlement Agreement shall adversely affect the ability of Jose Hernandez to apply for or obtain a license to operate a check cashing general facility or limited facility from the Commissioner in the future; and |
| 5. | Notwithstanding paragraph 3 herein, execution of this Settlement Agreement is without prejudice to the right of the Commissioner to take enforcement action against Jose Hernandez to enforce this Settlement Agreement if the Commissioner determines that Jose Hernandez is not fully complying with any term or condition contained herein. For purposes of this paragraph, a violation of this Settlement Agreement shall be deemed to be a violation of an order of the Commissioner. |
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 13th day of September 2010. ________/s/_________
Howard F. Pitkin
Banking Commissioner
I, Jose Hernandez d/b/a Music & Mas, state that I have read the foregoing Settlement Agreement; that I know and fully understand its contents; that I agree freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that I voluntarily agree to enter into this Settlement Agreement, expressly waiving any right to a hearing on the matters described herein.
By: ________/s/___________________
Jose Hernandez d/b/a Music & Mas
State of: CT
County of: Fairfield
On this the 8th day of September 2010, before me, Michael Jon Barbarula, the undersigned officer, personally appeared Jose Hernandez, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained.
In witness whereof I hereunto set my hand.
________/s/_________
Comm. Superior Court