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, J&M Check Cashing is a Connecticut limited liability company that has not been licensed to operate a general facility at 21 New Britain Avenue, Hartford, Connecticut, since October 1, 2011;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted a subsequent investigation pursuant to Section 36a-17 of the 2012 Supplement to the General Statutes into the activities of J&M Check Cashing 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, as a result of such investigation, the Commissioner alleges that J&M Check Cashing, during the period of at least January 1 through April 13, 2012, engaged in the business of cashing checks, drafts and money orders for consideration without licensure for a general facility at 21 New Britain Avenue, Hartford, Connecticut, in violation of Section 36a-581(a) of the 2012 Supplement to the General Statutes;

WHEREAS, the Commissioner believes that such allegation would support initiation of enforcement proceedings against J&M Check Cashing, including proceedings to issue a cease and desist order against J&M Check Cashing 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 J&M Check Cashing 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 J&M Check Cashing acknowledge the possible consequences of formal administrative proceedings, and J&M Check Cashing voluntarily agrees to consent to the entry of the sanctions described below without admitting or denying any allegation contained herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained herein;

WHEREAS, J&M Check Cashing herein represents to the Commissioner that it has not engaged in the business of cashing checks, drafts and money orders for consideration without licensure for a general facility or limited facility since April 13, 2012;

WHEREAS, J&M Check Cashing specifically assures the Commissioner that the violation described herein shall not occur in the future;

AND WHEREAS, J&M Check Cashing, 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 SANCTIONS

WHEREAS, J&M Check Cashing, 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 2nd day of May 2012.                  ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner

I, Jason Amado, state on behalf of Amado America LLC d/b/a J&M Check Cashing Store, 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 Amado America LLC d/b/a J&M Check Cashing Store; that Amado America LLC d/b/a J&M Check Cashing Store agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Amado America LLC d/b/a J&M Check Cashing Store 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:  Jason Amado
                                                   Title:  Owner
                                                   Amado America LLC
                                                   d/b/a J&M Check Cashing Store
                                                   
                                                   

State of:  CT

County of:  Hartford

On this the 2nd day of May 2012, before me, Amy B. Grillo, the undersigned officer, personally appeared Jason Amado who acknowledged himself/herself to be the Owner of Amado America LLC d/b/a J&M Check Cashing Store, a member managed/manager managed limited liability company, and that he/she 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/herself as Owner.

In witness whereof I hereunto set my hand.

Administrative Orders and Settlements