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IN THE MATTER OF: SPEEDY GONZALEZ MULTISERVICES, LLC ("Speedy Gonzalez") |
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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, Speedy Gonzalez is a Delaware limited liability company that is currently licensed to operate a check cashing general facility in Connecticut at 200 Ella T. Grasso Boulevard, New Haven, Connecticut;
WHEREAS, on August 28, 2009, Speedy Gonzalez filed an application for Renewal of Check Cashing Service License seeking to renew its check cashing general facility license for the October 1, 2009 to September 30, 2011 licensing period;
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 Speedy Gonzalez 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, as a result of such investigation, the Commissioner alleges that Speedy Gonzalez, during the period of November 2009 through April 2010, engaged in the business of cashing checks, drafts and money orders for consideration without obtaining a license to operate a general facility or a limited facility at 155 West Cedar Street, Norwalk, Connecticut, in violation of Section 36a-581(a) of the 2010 Supplement to the General Statutes;
WHEREAS, the Commissioner believes that the unlicensed check, draft and money order cashing activity allegations would support initiation of enforcement proceedings against Speedy Gonzalez, including proceedings to revoke and refuse to renew its check cashing general facility license pursuant to Section 36a-587(a) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2010 Supplement to the General Statutes, issue a cease and desist order against Speedy Gonzalez 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 Speedy Gonzalez 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 Speedy Gonzalez acknowledge the possible consequences of formal administrative proceedings;
WHEREAS, Speedy Gonzalez 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, Speedy Gonzalez, through its 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, Speedy Gonzalez specifically assures the Commissioner that Speedy Gonzalez has not engaged in any unlicensed check cashing activity since April 2010, and that the violation described herein shall not occur in the future.
NOW THEREFORE, the Commissioner and Speedy Gonzalez enter into this Settlement Agreement as follows:
| 1. | No later than the date this Settlement Agreement is executed by Speedy Gonzalez, Speedy Gonzalez 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 ($3,000) as a civil penalty; |
| 2. | Speedy Gonzalez shall not engage in the business of cashing checks, drafts or money orders for consideration, except as an incident to the conduct of any other lawful business where not more than fifty cents ($.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 Speedy Gonzalez 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 Speedy Gonzalez based on the allegations contained herein if any representation made by Speedy Gonzalez in this Settlement Agreement is subsequently discovered to be untrue or if Speedy Gonzalez is not fully complying with any term or condition stated herein; |
| 4. | Nothing in this Settlement Agreement shall adversely affect the ability of Speedy Gonzalez to apply for or obtain a license or renewal 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 Speedy Gonzalez to enforce this Settlement Agreement if the Commissioner determines that Speedy Gonzalez is not fully complying with any term or condition stated 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 17th day of August 2010. ________/s/_________
Howard F. Pitkin
Banking Commissioner
I, Balmar Gonzalez, state on behalf of Speedy Gonzalez Multiservices, LLC, 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 Speedy Gonzalez Multiservices, LLC; that Speedy Gonzalez Multiservices, LLC agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that Speedy Gonzalez Multiservices, LLC voluntarily agrees to enter into this Settlement Agreement, expressly waiving any right to a hearing on the matters described herein.
By: ________/s/_________
Name: Balmar Gonzalez
Title: Owner
Speedy Gonzalez Multiservices, LLC
State of: Connecticut
County of: New Haven
On this the 12th day of August 2010, before me, Brenda Burgess, the undersigned officer, personally appeared Balmar Gonzalez, who acknowledged himself to be the Owner of Speedy Gonzalez Multiservices, LLC, a member managed/manager managed limited liability company, and that he as such Owner, 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 Owner.
In witness whereof I hereunto set my hand.
________/s/_________
Notary Public
Date Commission Expires: Aug 31, 2014