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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
CHECK CASHER LICENSING
Docket No. 2009-122
In the Matter of
BOSTON CHECK CASHERS, INC.
Check Casher License Nos. CC0030 et al.
WHEREAS, Boston Check Cashers, Inc., Boston, Massachusetts, a licensed check casher under Massachusetts General Laws chapter 169A and 209 CMR 45.00 et seq. ("Boston Check Cashers" or the "Corporation"), has been advised of its right to Notice and Hearing pursuant to General Laws chapter 169A, sections 8 and 9, 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 11, 2009, 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 check casher, Boston Check Cashers agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, an examination/inspection of Boston Check Cashers was conducted pursuant to General Laws chapter 169A, section 10, as of May 21, 2007, including follow-up visitations on September 17, 2008 and April 22, 2009 (the "examination/inspection") to assess the Corporation's level of compliance with applicable Massachusetts and federal laws and the Division's regulations governing the conduct of those engaged in the business of a check casher in the Commonwealth; and
WHEREAS, the Report of Examination/Inspection (the "Report") issued pursuant to the Division's examination/inspection of Boston Check Cashers alleged violations of state and federal laws, which have been addressed by Boston Check Cashers in the Corporation's written response to the Report.
NOW COME the parties in the above-captioned matter, the Division, and Boston Check Cashers, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 11th day of December, 2009
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts
RE: Republic Bank & Trust Company (Currency Connection) Direct Deposit Accounts
To Whom It May Concern:
This letter is to inform you that effective February 5, 2010 Boston Check Cashers will no longer be able to provide direct deposit services for your social security, disability, other government benefit checks, or payroll through Republic Bank & Trust Company.
You should contact the Social Security Administration (SSA) immediately to change your direct deposit instructions. If you have questions or need assistance, please contact Republic Bank & Trust at 1-866-758-3973.
The following options are available to you:
If you have any questions, feel free to contact the Commonwealth of Massachusetts Division of Banks Consumer Assistance Unit at 1-800-495-BANK ext. 501.
Thank you for your cooperation and continued business.
Boston Check Cashers