DOB: Frog Bridge Check Cashing Plus - Order Accepting Surrender

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IN THE MATTER OF:

FROG BRIDGE CHECK
CASHING PLUS, LLC

    ("Respondent")

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ORDER ACCEPTING SURRENDER

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, On September 26, 2011, Respondent filed a Renewal of Check Cashing Service License – Main Office General Facility application for the October 1, 2011 through September 30, 2013 renewal period;
 
WHEREAS, Respondent is a Connecticut limited liability company licensed to operate a general facility to engage in the business of cashing checks, drafts or money orders;
 
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17 of the 2012 Supplement to the General Statutes into the activities of Respondent 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, on June 18, 2012, the Commissioner, acting pursuant to Sections 36a-587(a)(3) and 36a-587(a)(4) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, issued a Notice of Intent to Refuse to Renew Check Cashing Service License and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;
 
WHEREAS, the Notice alleged that Respondent failed to keep its books, records and accounts readily available for inspection by a representative of the Commissioner, in violation of Section 36a-588-3 of the Regulations, which constitutes sufficient grounds for the Commissioner to refuse to renew Respondent’s check cashing service license pursuant to Section 36a-587(a)(3) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes;
 
WHEREAS, the Notice also alleged that Respondent failed to submit its 2011 financial statement to the Commissioner, in violation of Section 36a-588-4 of the Regulations, which constitutes sufficient grounds for the Commissioner to refuse to renew Respondent’s check cashing service license pursuant to Section 36a-587(a)(3) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes;
 
WHEREAS, the Notice further alleged that as a result of the conduct of the sole owner of Respondent, with respect to the above described violations, the Commissioner is unable to find that such owner is in all respects properly qualified and of good character.  Such failure constitutes grounds for the Commissioner to deny an application for a check cashing service license pursuant to Section 36a-581(e)(4) of the 2012 Supplement to the General Statutes, which constitutes sufficient grounds for the Commissioner to refuse to renew Respondent’s check cashing service license pursuant to Section 36a-587(a) and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes;
 
WHEREAS, the Notice further alleged that the conduct of the sole owner of Respondent with respect to the above described violations demonstrates incompetency or untrustworthiness to act as a licensed check cashing service by the sole owner, which conduct constitutes sufficient grounds for the Commissioner to refuse to renew Respondent’s check cashing service license pursuant to Section 36a-587(a)(4) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes;
 
WHEREAS, on June 19, 2012, the Notice was mailed by certified mail, return receipt requested, to Respondent (Certified Mail Nos. 70112000000247358710 and 70110470000225730270) and its agent (Certified Mail No. 70112000000247358727);
 
WHEREAS, on June 20, 2012, Respondent and its agent received the Notice, and no request for a hearing has been received by the Commissioner;
 
WHEREAS, on June 27, 2012, Respondent or Respondent’s authorized agent surrendered Respondent’s check cashing service license in Connecticut in person to the Commissioner;
 
WHEREAS, Section 36a-583 of the Connecticut General Statutes provides, in pertinent part, that “[n]ot later than fifteen days after a licensee ceases to engage in this state in the business of cashing checks, drafts or money orders for consideration at a general facility or limited facility for any reason, including, but not limited to, a business decision to terminate operations in this state, license revocation, bankruptcy or voluntary dissolution, such licensee shall surrender to the commissioner in person or by registered or certified mail its license for each location in which such licensee has ceased to engage in such business”;
 
AND WHEREAS, Section 36a-51(c) of the 2012 Supplement to the General Statutes provides, in pertinent part, that “[a]ny licensee may surrender any license issued by the commissioner under any provision of the general statutes by surrendering the license to the commissioner in person or by registered or certified mail . . . .  If, prior to receiving the license, . . . the commissioner has instituted a proceeding to . . . refuse to renew such license, such surrender . . . will not become effective except at such time and under such conditions as the commissioner by order determines”.
 
NOW THEREFORE, Commissioner ORDERS the following:

1.
Upon issuance of this Order Accepting Surrender, the surrender of the license of Frog Bridge Check Cashing Plus, LLC to engage in the business of cashing checks, drafts or money orders for consideration in Connecticut shall become effective; no additional conditions are herein imposed in connection with such surrender;
2.
Upon issuance of this Order Accepting Surrender, this matter will be resolved and the Commissioner will not take any future enforcement action against Frog Bridge Check Cashing Plus, LLC based upon any allegation contained in the Notice and set forth herein;
3.
This Order Accepting Surrender shall become final when issued.
 

Issued at Hartford, Connecticut
this 5th day of July 2012.                          ________/s/_________
                                                            Howard F. Pitkin
                                                            Banking Commissioner



This Order was mailed by certified mail,
return receipt requested, to Respondent
on July 5, 2012.


Janice Abella                       Certified Mail No. 7011 0470 0002 2573 2359
Frog Bridge Check Cashing Plus, LLC
31 Church Street
Willimantic, CT 06226

Janice Abella                       Certified Mail No. 7011 1870 0001 3619 1904
110 Willow Street
Meriden, CT 06450

Janice C. Hankey                  Certified Mail No. 7011 1870 0001 3619 1911
Agent for Frog Bridge Check Cashing Plus, LLC
600 Main Street
Willimantic, CT 06226


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