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IN THE MATTER OF: WAL-MART STORES EAST, LP ("Wal-Mart Stores") |
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CONSENT ORDER |
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 (“Regulations”);
WHEREAS, Wal-Mart Stores is a Delaware limited partnership that currently has thirty-three (33) separate licenses to operate thirty-three (33) general facilities in Connecticut;
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 Wal-Mart Stores 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, during the course of such investigation, Wal-Mart Stores self-reported that during the period of January 12, 2010 through October 18, 2011, it inadvertently failed to timely submit the quarterly reports to the Commissioner as required by Section 36a-584(c) of the Connecticut General Statutes;
WHEREAS, Wal-Mart Stores acknowledges that such violation would support initiation of enforcement proceedings against Wal-Mart Stores, including proceedings to revoke the licenses of Wal-Mart Stores pursuant to Section 36a-587(a) and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, issue a cease and desist order against Wal-Mart Stores 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 Wal-Mart Stores pursuant to Sections 36a-587(b) and 36a-50(a) of the Connecticut General Statutes;
WHEREAS, initiation of such enforcement proceedings would constitute a “contested case” within the meaning of Section 4-166(2) 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, both the Commissioner and Wal-Mart Stores acknowledge the possible consequences of formal administrative proceedings, and Wal-Mart Stores voluntarily agrees to consent to the entry of the sanction described below and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained herein;
WHEREAS, Wal-Mart Stores specifically assures the Commissioner that the violation described herein shall not occur in the future;
AND WHEREAS, Wal-Mart Stores, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to notice and an opportunity for 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 SANCTION
WHEREAS, Wal-Mart Stores, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:
No later than the date this Consent Order is executed by Wal-Mart Stores, Wal-Mart Stores 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;
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
| 1. | The Sanction set forth above be and is 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 Wal-Mart Stores based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Wal-Mart Stores 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 Wal-Mart Stores and reflected herein is subsequently discovered to be untrue; |
| 3. | Nothing in the issuance of this Consent Order shall adversely affect the ability of Wal-Mart Stores to apply for or obtain a license or renewal license for a general facility or limited facility under Part IV of Chapter 668, Sections 36a-580, et seq. of the Connecticut General Statutes, provided all applicable legal requirements for such license are satisfied; and |
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This Consent Order shall become final when issued.
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Dated at Hartford, Connecticut
this 23rd day of January 2012. ________/s/_________
Howard F. Pitkin
Banking Commissioner
I, Tracy A. Triplett, state on behalf of Wal-Mart Stores East, LP, 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 Wal-Mart Stores East, LP; that Wal-Mart Stores East, LP agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Wal-Mart Stores East, LP 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: Tracy A. Triplett
Title: Senior Manager Leg. Affairs & Reg. Compliance
Wal-Mart Stores East, LP
State of: Arkansas
County of: Benton
On this the 12th day of January 2012, before me, Brandy N. McCool, the undersigned officer, personally appeared Tracy A. Triplett who acknowledged himself/herself to be the Sr. Manager of Wal-Mart Stores East, LP, a limited partnership, and that he/she as such Sr. Manager, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited partnership by himself/herself as Tracy A. Triplett.
In witness whereof I hereunto set my hand.
________/s/_________
Notary Public / Commissioner of the Superior Court
My Commission Expires: 8-1-13