Consent Order  PBCM of West Virginia, Inc. and Sarely Justice, Individually

Date:	11/05/2018
Organization:	Division of Banks
Docket Number:	2018-009

WHEREAS, PBCM OF WEST VIRGINIA, INC. (PBCM or the Corporation), an applicant for a debt collector license under Massachusetts General Laws chapter 93, section 24A, and Sarely Justice, President and 100% owner of PBCM, have been advised of their right to appeal a license denial under Massachusetts General Laws, chapter 93, section 24G, 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 _November 5, 2018, whereby, solely for the purpose of settling this matter and expressly without admission of fault or liability, PBCM and Sarely Justice agree to the issuance of this CONSENT ORDER (Consent Order) by the Commissioner of Banks (Commissioner);

WHEREAS, the Division of Banks (Division) has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a debt collector in Massachusetts pursuant to Massachusetts General Laws chapter 93, sections 24-28 and regulation 209 CMR 18.00 et seq.;

WHEREAS, Sarely Justice, at all relevant times has been the President and sole owner of PBCM;

WHEREAS, on September 15, 2017 PBCM filed an application through the Nationwide Multistate Licensing System & Registry (NMLS) to be licensed as a debt collector in Massachusetts;   

WHEREAS, on May 24, 2018 the State of Connecticut Department of Banking (Connecticut Department) issued to PBCM a Notice of Intent to Issue Order to Cease and Desist; Notice of Intent to Impose Civil Penalty; and Notice of Right to a Hearing (CT Notice of Intent);

 WHEREAS, the basis for the CT Notice of Intent, as described therein, was due to PBCM’s  submission of false and misleading financial  and bank statements that were in direct conflict with subpoenaed bank records;

WHEREAS, the same financial and bank statements that were provided to The Connecticut Department were also made available to the Division through the NMLS;

WHEREAS, the Division has reviewed the subpoenaed financial and bank statements referenced in the CT Notice of Intent and noted the discrepancies described in the CT Notice of Intent;

WHEREAS, on June 4, 2018 PBCM submitted a request to withdraw its Massachusetts debt collector application;    

WHEREAS, the Division has not accepted the withdrawal request, and the license application remains in a pending status as of this date;

WHEREAS, on August 22, 2018, The Connecticut Department and PBCM entered into a Consent Order (CT Consent Order) in order to resolve the CT Notice of Intent; and

WHEREAS, pursuant to the CT Consent Order, PBCM consented to be permanently barred from acting as a consumer collection agency in Connecticut; and

WHEREAS, pursuant to the CT Consent Order, Sarely Justice consented to be permanently barred from acting as a control person, qualified individual, or branch manager for any consumer collection agency in Connecticut.

Consent Order

NOW COME the parties in the above-captioned matter, the Division, Sarely Justice, and PBCM who stipulate and agree as follows:

1.  Upon the execution of this Consent Order, the Division will update PBCM’s licensing status in Massachusetts to “Withdrawn – Voluntary Without Licensure.”
2. Sarely Justice and PBCM will refrain from submitting an application to obtain a license or registration from the Commissioner for a period of one hundred and twenty (120) months from the effective date of this Consent Order.
3. The provisions of this Section shall necessarily prohibit Sarely Justice from taking an ownership position in and from participating, in any manner, in the responsibilities or duties of a control person of an entity licensed or registered by the Division prior to the expiration of the 120-month term.  For the purposes of this Consent Order, “control” shall be defined as the power, directly or indirectly, to oversee the management or policies of an entity, whether through ownership of securities, by contract, or otherwise. 
4. To the extent that PBCM or Sarely Justice or their successors or assigns, wish to obtain a license or registration from the Division at the expiration of the 120-month term as set forth above, PBCM and/or Sarely Justice or such individual, as applicable, shall be required to submit a completed application to obtain the relevant license(s) from the Commissioner.  The Commissioner shall have all of the discretion set forth within the relevant laws and regulations in determining whether to issue a license or registration to PBCM or Sarely Justice, provided however, that any such application(s) shall not be denied solely on the basis of this Consent Order. 
5. The provisions of this Consent Order shall not limit, estop, or otherwise prevent any other state agency or department, other than the Division, or the Commissioner or his designee, from taking any other action affecting Sarely Justice, PBCM and/or any of its officers, directors, or managers.
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 PBCM and Sarely Justice.
8. In accordance with the terms of the Stipulation entered by PBCM, Sarely Justice, and the Commissioner, PBCM and Sarely Justice have waived all rights of appeal that they may have relative to this Consent Order.
9. Nothing in this Consent Order shall be deemed to be an admission of Sarely Justice, PBCM or its officers, directors or managers or their successors or assigns of any allegations or implications of fact or the existence of any violations of applicable state or federal rules, statutes, or regulations, including without limitation, any such allegations set forth in this Consent Order.
10. 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.
11. This Consent Order and the Stipulation are the complete documents representing the resolution of this matter.  There are no other agreements, promises, representations, or warranties other than those set forth in this Consent Order, which replaces and supersedes all prior agreements between PBCM, Sarely Justice, and the Commissioner.

 

By order and direction of the Commissioner of Banks:

Dated at Boston, Massachusetts, this 5th day of November, 2018.

By:
Terence A. McGinnis
Commissioner of Banks
Commonwealth of Massachusetts