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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-075-CO
In the Matter of
ENVIOS R.D. CORP. D/B/A/ PRONTO ENVIOS
New York, New York
Foreign Transmittal Agency License No(s): FT2581 et al.
WHEREAS, Envios R.D. Corp., d/b/a Pronto Envios, New York, New York, ("Pronto Envios" or the "Corporation"), 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 June 21st, 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, Pronto Envios agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, on February 5, 2010, the Division issued a TEMPORARY ORDER TO CEASE AND DESIST, Docket No. 2010-075 (the "Temporary Order"), against Pronto Envios which alleged that the Corporation had failed to demonstrate and maintain the character, reputation, integrity, and general fitness that would warrant the belief that its foreign transmittal business would be operated honestly, fairly, and soundly in the public interest as a result of the Corporation's failure to transmit funds received by Pronto Envios' Agents for transactions to beneficiaries in foreign countries within seven days following the receipt thereof;
WHEREAS, an examination/inspection of Pronto Envios was conducted pursuant to General Laws chapter 169, section 10, as of July 9, 2009 (the "2009 examination/inspection") and the Report of Examination/Inspection (the "Report") issued in conjunction with this Consent Order assessed the Corporation's level of compliance with applicable state and federal laws, rules, regulations and regulatory bulletins governing the conduct of those engaged in the business of a foreign transmittal agency in the Commonwealth;
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 Pronto Envios 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, Pronto Envios 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 Pronto Envios 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 21st day of June 2010.
NOW COME the parties in the above-captioned matter, the Division and Pronto Envios, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of June, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts