Consent Order  Atlas ATM Corporation

Date:	08/12/2013
Organization:	Division of Banks
Docket Number:	2012-038-CO
Location:	Providence, RI

Atlas ATM Corp., Providence, RI - Consent Order

COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
NON-BANK ELECTRONIC
BRANCH SUPERVISION
Docket No. 2012-038-CO

CONSENT ORDER

In the Matter of
ATLAS ATM CORPORATION
Providence, Rhode Island

WHEREAS ATLAS ATM CORPORATION (“Atlas” or the “Corporation”), with its main business office located at 1106 North Main Street, Providence, Rhode Island, has entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER  ("CONSENT AGREEMENT") with representatives of the Division of Banks (“Division”) dated August 12, 2013, whereby, solely for the purpose of settling this matter, Atlas agrees to the issuance of this CONSENT ORDER (“Consent Order”) by the Commissioner of Banks (“Commissioner”);

WHEREAS, the Division of Banks ("Division"), through the Commissioner, has jurisdiction over the regulation of persons and entities engaged in the business of providing non-bank automated teller machines (“ATMs”), pursuant to the Division’s regulation, 209 C.M.R. 31.06;

WHEREAS, Atlas is, and at all relevant times, has been approved by the Commissioner, as a foreign corporation conducting business in the Commonwealth of Massachusetts.  Atlas’ main office is located at 1106 North Main Street, Providence, Rhode Island;

WHEREAS, pursuant to M.G.L. c. 93A, §6, the Division, in conjunction with the Office of the Attorney General conducted an investigation relating to Atlas’ alleged failures to post and/or post in the proper form, disclosures and signage at certain ATMs in violation of the Division’s regulation 209 C.M.R. 31.06(3) (“The Investigation”);

WHEREAS, as a result of its investigation, the Division alleges that, in many instances, Atlas failed to conform to Division of Banks regulation 209 C.M.R. 31.06(3) and that this failure violated the Massachusetts Consumer Protection Act, M.G.L. c. 93A, § 2(a);

WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Order;

WHEREAS, without this Consent Order constituting an admission by Atlas of any allegations made or implied by the provisions of the Order; solely for the purpose of settlement of all alleged violations.

 

ORDER

NOW COME the parties in the above-captioned matter, the Division and Atlas, and stipulate and agree as follows:

1. Atlas shall revise its procedures to ensure that all non-bank ATM disclosures used by the Corporation are in compliance with 209 C.M.R. 31.06.  
   1. Atlas shall take all necessary steps to ensure that disclosures and signage, including fee disclosures, are made in accordance with 209 C.M.R. 31.06(3).
   2. Atlas shall establish, implement and maintain a system of internal controls to monitor the Corporation’s compliance with 209 C.M.R. 31.06(3).
   3. Atlas shall establish, implement and maintain a system to monitor ongoing compliance at company ATMs.
   4. Atlas shall establish, implement and maintain rigorous policies and procedures to ensure that all disclosures comply with 209 C.M.R. 31.06(3) and are thoroughly reviewed by senior management prior to publication or placement upon Atlas ATMs.  Upon request by the Division, Atlas shall provide a copy of its policies and procedures for review.
   5. Atlas shall establish as necessary policies and procedures to ensure that individuals performing on behalf of Atlas act in accordance with the policies and procedures established pursuant to paragraph 1(c) above.  Atlas shall also develop a system to monitor and evaluate third party vendors who are acting on its behalf to ensure that such vendors are complying with Atlas’ policies and procedures established pursuant to paragraph 1(c) above.
2. Within 45 days of the date of this Order, Atlas shall visit each of its ATMs in Massachusetts and provide an initial report (“Initial Report”) to the Division that demonstrates compliance with 209 C.M.R. 31.06(3).  For each ATM, the Initial Report shall include: 1) the address of the ATM; 2) ATM terminal identification number 3) if it is located in a retail store or business, the name of that retail store or business;  and 4) a spreadsheet containing a checklist indicating compliance or noncompliance with 209 C.M.R. 31.06(3).  The Initial Report shall be sent to the Commissioner of Banks, Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.
3. For a period of one (1) year after the submission of its Initial Report to the Division, Atlas shall provide, every six (6) months, a follow-up report (“Follow-Up Report”) to the Division confirming that each ATM in Massachusetts remains in compliance with applicable laws and regulations.  Each Follow-Up Report shall include the same types of information as those required for the Initial Report.  Each Follow-Up Report shall be sent to Commissioner of Banks, Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.
4. Nothing in this Consent Order shall be construed as permitting Atlas to violate any law, rule, regulation, or regulatory bulletin to which Atlas is subject.
5. Failure to comply with the terms of this Consent Order shall constitute grounds for revocation of approval pursuant to applicable provisions of the General Laws of the Commonwealth of Massachusetts.
6. This Consent Order shall become effective immediately upon the date of its issuance. 
7. The provisions of this Consent Order shall be binding upon Atlas and its officers and directors, and their successors or assigns.
8. The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this Consent Order shall have been modified, terminated, suspended, or set aside by the Commissioner or upon an order of a court of competent jurisdiction.
9. This Consent Order and the Consent Agreement are the complete documents representing the resolution of this matter.  There are no other agreements between the Division and Atlas.

BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.

Dated at Boston, Massachusetts, this 12th day of August, 2013

David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts