DOB: Madison, Monroe & Associates P.A. - Decision and Ord on Recon

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IN THE MATTER OF:

MADISON, MONROE &
ASSOCIATES P.A.

     ("Respondent")


   
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DECISION AND ORDER ON
RECONSIDERATION           

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes contained in Part II of Chapter 669 of the Connecticut General Statutes, “Debt Adjusters and Debt Negotiation”;

WHEREAS, on June 5, 2012, the Commissioner, acting pursuant to Section 36a-52(b) of the Connecticut General Statutes, Section 36a-671a(b) of the 2012 Supplement to the General Statutes and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on June 8, 2012, Respondent and Respondent’s agent each received the Notice and no request for a hearing has been received by the Commissioner;

WHEREAS, on August 21, 2012, the Commissioner, acting pursuant to Section 36a-671a(b) of the 2012 Supplement to the General Statutes and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued an Order to Cease and Desist and Order Imposing Civil Penalty, which is incorporated by reference herein;

WHEREAS, Respondent, through legal counsel, communicated to the Consumer Credit Division of the Department of Banking their continuing desire to settle the matters described herein.  Prior settlement negotiations between the Division and Respondent had been unsuccessful;

AND WHEREAS, by Consent Order executed on even date, which Consent Order is incorporated by reference herein and made a part hereof, the Commissioner and Respondent reached agreement on the regulatory concerns involved.

NOW THEREFORE, the Commissioner enters the following: 

1. Pursuant to Section 4-181a(b) of the Connecticut General Statutes and on a showing of changed conditions as evidenced by the Consent Order executed on the date of this Order, the August 21, 2012, Order to Cease and Desist and Order Imposing Civil Penalty are hereby reversed effective upon the issuance of this Order; and
2. This Order shall become final when issued.


Issued at Hartford, Connecticut
this 5th day of April 2013.                  ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner

 

Robby H. Birnbaum, Esq.                   Certified Mail No. 7011 0470 0002 2572 9687
Greenspoon Marder, P.A.
100 West Cypress Road, Suite 700
Fort Lauderdale, FL 33309
 


Administrative Orders and Settlements