The State Organization Index provides an alphabetical listing of government organizations, including commissions, departments, and bureaus.
Top-requested sites to log in to services provided by the state
COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2009-114-CO
In the Matter of
DOUBLES BUILDING SOCIETY, LLC
d/b/a SMALL FINANCIAL ORGANIZATION
Foreign Transmittal Agency License Nos. FT5741 and FT6557
WHEREAS, Doubles Building Society, LLC, d/b/a Small Financial Organization, Worcester, Massachusetts ("Doubles Building Society" or the "Company"), a licensed foreign transmittal agency under Massachusetts General Laws chapter 169 has been advised of its right to Notice and Hearing pursuant to General Laws chapter 169, section 13, 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 April, 28, 2010, 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 foreign transmittal agency, Doubles Building Society agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, pursuant to General Laws chapter 169, section 13(b), the Commissioner issued a FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST, Docket No. 2009-114 (the "Temporary Order"), against Doubles Building Society on July 2, 2009, as a result of Doubles Building Society's alleged failure to demonstrate and maintain the financial responsibility, character, reputation, integrity, and general fitness that would warrant the belief that its foreign transmittal business will be operated honestly, fairly, and soundly in the public interest in violation of General Laws chapter 169, section 6 and the Division's regulation 209 CMR 44.03;
WHEREAS, by letter dated July 14, 2009, Doubles Building Society filed a response to the Temporary Order with the Division whereby the Company requested an administrative hearing in accordance with Massachusetts General Laws chapter 30A;
WHEREAS, on July 22, 2009, Doubles Building Society appeared at the Division's offices for an informal conference to discuss the matters raised by the Temporary Order;
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Temporary Order;
WHEREAS, without this Consent Order constituting an admission by Doubles Building Society of any allegations made or implied by the provisions of the Temporary Order; solely for the purpose of settlement of all alleged violations without protracted administrative proceedings and judicial review, Doubles Building Society hereby waives its right to complete the hearing process relative to this proceeding and affirms that it is willing to take all necessary action as set forth in this Consent Order; and
WHEREAS, in recognition of the Division and Doubles Building Society having reached the following mutual agreement under this Consent Order to fully resolve the matters raised by the Temporary Order, the Commissioner has terminated the Temporary Order on this 28 thday of April 2010.
NOW COME the parties in the above-captioned matter, the Division and Doubles Building Society, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 28th day of April, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts