DOB: Servicios Latino Express-Denial of CHCK License

August 17, 2010
Ms. Estela Besaw, Member
Servicios Latino Express, LLC
610 Ferry Street
New Haven, CT 06513
Re: Denial of Check Cashing License
Dear Ms. Besaw:
On October 27, 2009, Servicios Latino Express, LLC (“Servicios”) filed an Application for a Check Cashing Service License seeking to obtain a license to operate a general facility at 610 Ferry Street, New Haven, Connecticut (“Ferry Street”).  On December 7, 2009, Servicios also filed a Main Office-Application for Check Cashing License seeking to operate a general facility at Ferry Street.  Pursuant to Section 36a-581 of the 2010 Supplement to the General Statutes, I hereby deny the license for the reasons set forth below.
Section 36a-581(e)(7) of the 2010 Supplement to the General Statutes prohibits me from issuing a license for a general facility unless I find, among other things, that “the applicant has available and shall continuously maintain liquid assets of at least ten thousand dollars for each general facility location . . . specified in the application”.
Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have investigated the financial history of Servicios, and I am unable to find that Servicios has and has continuously maintained liquid assets of at least $10,000.  For the reason stated above, I am unable to issue a license to Servicios to operate a general facility at Ferry Street.
Very truly yours,
Howard F. Pitkin
Banking Commissioner
Certified Mail No. 70031680000085236137