DOB: Leading Edge Recovery Solutions, L.L.C. - Getzville - Rev-CD

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IN THE MATTER OF:

LEADING EDGE RECOVERY
SOLUTIONS, L.L.C.

   ("Respondent")

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ORDER REVOKING CONSUMER
COLLECTION AGENCY LICENSE

AND

ORDER TO CEASE AND DESIST


I.  PRELIMINARY STATEMENT

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part XII of Chapter 669, Sections 36a-800 to 36a-812, inclusive, of the Connecticut General Statutes, “Consumer Collection Agencies”, and the regulations promulgated thereunder, Sections 36a-809-6 to 36a-809-17, inclusive, of the Regulations of Connecticut State Agencies (“Regulations”);

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation of the activities of Respondent, pursuant to the authority granted by Section 36a-17 of the Connecticut General Statutes, to determine if Respondent had violated, was violating or was about to violate the provisions of the Connecticut General Statutes or Regulations within the jurisdiction of the Commissioner;

WHEREAS, on May 1, 2015, the Commissioner, acting pursuant to Sections 36a-802(b), 36a-52(b), 36a-804(a) and 36a-804(a)(3), subsections (a) and (b) of Section 36a-51, and Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on May 1, 2015, the Notice was sent by certified mail, return receipt requested, to Respondent (Certified Mail Nos. 70143490000235285298 and 70143490000235285304) and to Respondent’s agent (Certified Mail No. 70143490000235285311);
 
WHEREAS, the Notice provided Respondent with the opportunity for a hearing and stated that if a hearing was not requested within 14 days of its receipt, the Commissioner would issue an order revoking Respondent’s license to act as a consumer collection agency in Connecticut from 33 Dodge Road, Suite 100, Getzville, New York, and issue an order that Respondent cease and desist from violating Section 36a-802(a) of the Connecticut General Statutes;

WHEREAS, on May 5, 2015, Respondent received the Notice; and no request for a hearing has been received by the Commissioner;
 
WHEREAS, the Commissioner alleged in the Notice, with respect to the activity described therein, that Respondent’s failure to maintain a surety bond that runs concurrently with the period of its consumer collection agency license constitutes sufficient grounds for the Commissioner to deny an application for such license and constitutes a violation of Section 36a-802(a) of the Connecticut General Statutes, both of which, pursuant to Sections 36a-804(a) and 36a-804(a)(3), and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, constitute sufficient grounds to revoke Respondent’s license to act as a consumer collection agency in Connecticut from 33 Dodge Road, Suite 100, Getzville, New York, and forms a basis to issue an order to cease and desist pursuant to Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes;

WHEREAS, Section 36a-51(b) of the Connecticut General Statutes provides, in pertinent part, that “[i]f the licensee does not request a hearing within the time specified in the notice . . . , the commissioner shall . . . revoke . . . the license.  No such license shall be . . . revoked except in accordance with the provisions of chapter 54”;
 
WHEREAS, Section 36a-52(a) of the Connecticut General Statutes provides, in pertinent part, that “[i]f the person does not request a hearing within the time specified in the notice . . . , the commissioner shall issue an order to cease and desist against the person.  No such order shall be issued except in accordance with the provisions of chapter 54”;
 
AND WHEREAS, Section 36a-1-31(a) of the Regulations of Connecticut State Agencies provides, in pertinent part, that “[w]hen a party fails to request a hearing within the time specified in the notice, the allegations against the party may be deemed admitted.  Without further proceedings or notice to the party, the commissioner shall issue a final decision in accordance with section 4-180 of the Connecticut General Statutes and section 36a-1-52 of the Regulations of Connecticut State Agencies”.
 

II.  FINDINGS OF FACT AND CONCLUSIONS OF LAW
 
1.
The Commissioner finds that the matters asserted, as set forth in paragraphs 1 through 5, inclusive, of Section II of the Notice shall constitute findings of fact within the meaning of Section 4-180(c) of the Connecticut General Statutes, and that the conclusions as set forth in Section III of the Notice shall constitute conclusions of law within the meaning of Section 4-180(c) of the Connecticut General Statutes and Section 36a-1-52 of the Regulations of Connecticut State Agencies.
2.
The Commissioner finds that Respondent has engaged in acts or conduct which, pursuant to Sections 36a-804(a) and 36a-804(a)(3), and subsections (a) and (b) of Section 36a-51 of Connecticut General Statutes, constitutes sufficient grounds to revoke Respondent’s license to act as a consumer collection agency in Connecticut from 33 Dodge Road, Suite 100, Getzville, New York.
3.
The Commissioner finds that Respondent has engaged in acts or conduct which, pursuant to Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, forms the basis to issue an order to cease and desist against Respondent.
4.
The Commissioner finds that the Notice was given in compliance with subsections (a) and (b) of Section 36a-51 and Sections 36a-52(a) and 4-177 of the Connecticut General Statutes.
 

III.  ORDER

Having read the record, I HEREBY ORDER, pursuant to Sections 36a-804(a) and 36a-804(a)(3), subsections (a) and (b) of Section 36a-51, and Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, that:

1.
The license of Leading Edge Recovery Solutions, L.L.C. to act as a consumer collection agency in Connecticut from 33 Dodge Road, Suite 100, Getzville, New York, be and is hereby The license of Leading Edge Recovery Solutions, L.L.C. to act as a consumer collection agency in Connecticut from 33 Dodge Road, Suite 100, Getzville, New York, be and is hereby REVOKED;
2.
Leading Edge Recovery Solutions, L.L.C. CEASE AND DESIST from violating Section 36a-802(a) of the Connecticut General Statutes; and
3.This Order shall become effective when mailed.

Dated at Hartford, Connecticut,
this 22nd day of June 2015.                          _________/s/_________
                                                                  Jorge L. Perez
                                                                  Banking Commissioner

This order was mailed by certified mail,
return receipt requested, to Respondent
Respondent's agent on June 22, 2015.

   
Leading Edge Recovery Solutions, L.L.C.        Certified Mail No. 70143490000235345213
Attention:  Bettina Magsino
33 Dodge Road, Suite 100
Getzville, New York 14068

Leading Edge Recovery Solutions, L.L.C.        Certified Mail No. 70143490000235345220
5440 N. Cumberland Avenue, Suite 300
Chicago, Illinois 60656

National Corporate Research LT                    Certified Mail No. 70143490000235345237
Agent for Leading Edge Recovery
Solutions, L.L.C.
520 S. 2nd Street, Suite 403
Springfield, Illinois 62701



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