DOB: Connecticut Department of Banking Asks Consumers Affected by Money Transmitter Century Union to Come Forward, Outlines Process for Consumer Restitution

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NEWS RELEASE

CONNECTICUT DEPARTMENT OF BANKING ASKS CONSUMERS AFFECTED BY MONEY TRANSMITTER CENTURY UNION TO COME FORWARD,
OUTLINES PROCESS FOR CONSUMER RESTITUTION

December 14, 2016

Connecticut Department of Banking (DOB) Commissioner Jorge L. Pérez is asking for any residents who may have used the money transmitter Century Union Services, LLC, and did not receive the services they paid for, to come forward. The Department has reason to believe that many more people may have been affected since DOB issued a Cease and Desist Order to the company in October 2016.

“These actions will not be tolerated here in Connecticut. I encourage anyone who may have had dealings with Century Union to come forward by contacting the insurance company which holds Century Union’s surety bond directly or the Department of Banking. We at the Department are here to serve all Connecticut residents,” said Banking Commissioner Perez. “I sympathize with the families who have been impacted by Century Union’s failure to provide the services they were paid to perform, particularly this time of year.”

On October 24, 2016,  Commissioner Perez issued a Summary Suspension and Temporary Order to Cease and Desist against Century Union Services, LLC (NMLS # 907743) and Robes Barboza (NMLS # 908878). In the order the Commissioner alleges:

  • Century Union failed to transmit money or monetary value received from Connecticut consumers; and
  • Century Union engaged in fraud, intentional misrepresentations or negligence.
These are grounds to take action to revoke Century Union’s money transmission license in Connecticut. Because of these alleged violations the Commissioner may also impose a civil penalty upon Century Union and Barboza.

As a licensee of the Department of Banking, Century Union is required to maintain a surety bond for which claims of loss can be filed. To ensure affected Connecticut consumers are made whole, the Department will mail letters to identified affected residents with detailed instructions on how to file a claim with the insurance company as outlined below. Other consumers unknown to the DOB need not have contacted the DOB prior to filing a claim.

  1. Consumers should send an e-mail to bondclaims@capspecialty.com to notify the insurance company, Capitol Indemnity Corporation, of the claim.  Consumers should include their complete mailing address.
  2. Consumers will receive a claim form from Capitol Indemnity Corporation.
  3. Consumers should complete the Capitol Indemnity claim form and have their signature notarized.  The information provided should include contact information, the name and address of the intended recipient, the contact information for the local agent that accepted the payment, and the amount of the money transmitted.  The documentation should include a copy the transmission receipt from the local agent who accepted payment.
  4. The completed form and required documentation should be forwarded back to Capitol Indemnity Corporation, according to instructions on the claim form.

Century Union is a Massachusetts limited liability company headquartered at 493 Broadway, Everett, Massachusetts and maintains a license to engage in the business of money transmission in Connecticut from three locations:

  1. Bull Boi Meat Supermarket, located at 827 North Avenue, Bridgeport
  2. Bem Brasil Market located at 213 White Street #1, Danbury
  3. Link Travel & Services located at 1839 Park Street, Hartford
Prior to the suspension of their license, Century Union maintained offices in Newark, New Jersey, and Pompano Beach, Florida. Robes Barboza is the sole member of the LLC. 

A hearing on the matter is scheduled for Thursday, December 15, 2016, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT Room 50 at 10:00 a.m.

See full Temporary Cease and Desist Order