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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
CHECK CASHER LICENSING
Docket No. 2009-126
In the Matter of
PARRAS, INC. D/B/A ACE CASH EXPRESS
Check Casher License No. CC0145
WHEREAS, Parras, Inc. d/b/a ACE Cash Express, Worcester, Massachusetts, a licensed check casher under Massachusetts General Laws chapter 169A and 209 CMR 45.00 et seq. ("Parras" 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 October 28, 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, Parras agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, an examination/inspection of Parras was conducted pursuant to General Laws chapter 169A, section 10, as of October 15, 2008, (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 Parras alleged a banking relationship for the direct deposit of certain government issued checks.
NOW COME the parties in the above-captioned matter, the Division, and Parras, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 28th day of October, 2009
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts