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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
DEBT COLLECTOR LICENSING
Docket No. 2008-019
In the Matter of
A & S COLLECTION ASSOCIATES, INC. and
RONALD L. SALDI, JR., Individually
Debt Collector License No. DC0338
WHEREAS, A & S Collection Associates, Inc., located at Williamstown, Vermont and with a Massachusetts office located at 5230 Washington Street in West Roxbury, Massachusetts, ("A & S Collection" or the "Corporation"), a licensed debt collector under Massachusetts General Laws chapter 93 section 24A, and Ronald L. Saldi, Jr., the President and sole owner of A & S Collection, have been advised of their right to Notice and Hearing pursuant to General Laws chapter 93, sections 24I and 24J, and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER ("CONSENT AGREEMENT") with representatives of the Division of Banks ("Division") dated December 19, 2008, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a debt collector, A & S Collection and Ronald L. Saldi, Jr. agree to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, A & S Collection failed to notify the Commissioner that: a) the Attorney General of the state of Vermont filed a consumer fraud lawsuit against the Corporation in August 2005; and b) the Corporation had entered into a Stipulation and Consent Decree on March 8, 2006 to settle the consumer fraud lawsuit filed against the Corporation, in violation of the Divisionâ€™s regulation 209 CMR 18.08(1)(d).
WHEREAS, A & S Collection failed to disclose the above-referenced regulatory actions in a license renewal application received by the Division on July 5, 2006 and signed by Ronald L. Saldi, Jr. on June 28, 2006 as an authorized officer of the Corporation, certifying under the pains and penalties of perjury that all statements contained therein were true.
WHEREAS, A & S Collection failed to disclose the above-referenced regulatory actions in a license renewal application received by the Division on August 1, 2007 and signed by Ronald L. Saldi, Jr. on July 16, 2007 as an authorized officer of the Corporation, certifying under the pains and penalties of perjury that all statements contained therein were true.
NOW COME the parties in the above-captioned matter, the Division, A & S Collection, and Ronald L. Saldi, Jr., stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS:
Dated at Boston, Massachusetts, this 8th day of January, 2009.
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts