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Consent Order

Consent Order  RBI Corporation, dba Norwest Services

Date: 07/11/2008
Organization: Division of Banks
Docket Number: 2008-012
Location: Norwood, MA
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RBI Corporation, d/b/a Norwest Services, Norwood, MA - Consent Order

COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
CHECK CASHER LICENSING
Docket No. 2008-012

CONSENT ORDER

In the Matter of
RBI CORPORATION d/b/a NORWEST SERVICES
Norwood, Massachusetts

Check Casher License No. CC0047

WHEREAS, RBI Corporation d/b/a Norwest Services, Norwood, Massachusetts, a licensed check casher under Massachusetts General Laws chapter 169A 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 July 11, 2008, 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, RBI Corporation and its officers and directors, and their successors and assigns (all of which shall be referred to as "RBI Corporation" or the "Corporation") agree to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner").

WHEREAS, RBI Corporation represents that it has ceased all check cashing activity as of May 2, 2008.

ORDER

NOW COME the parties in the above-captioned matter, the Division and RBI Corporation, and stipulate and agree as follows:

  1. Immediately upon the execution of this Consent Order, RBI Corporation shall withdraw its pending check casher license renewal application for license No. CC0047 for its office located at 18 Central Street, Norwood, Massachusetts, which was received by the Division on or about May 1, 2008. Upon withdrawal of its application, RBI Corporation, its officers, directors, employees, agents, successors and assigns, and those persons in active participation with it, directly or indirectly, will refrain from engaging in the business of a check casher, as that term is defined under General Laws chapter 169A, section 1.
  2. To the extent that RBI Corporation wishes to resume business as a licensed check casher, RBI Corporation shall be required to submit a completed application to obtain the relevant license from the Commissioner. Unless the Commissioner, in his sole discretion, agrees to accept such an application earlier, RBI Corporation agrees not to submit such an application until at least forty eight (48) months have elapsed following the effective date of this Consent Order. The Commissioner will have all of the discretion set forth within General Laws chapter 169A in determining whether to issue a license to RBI Corporation to conduct the licensed business.
  3. The provisions of this Consent Order shall not limit, estop, or otherwise prevent the Division, or any other state or federal agency or department, from taking any other action affecting RBI Corporation, its officers, directors, employees, agents, successors and assigns, and those persons in active participation with it, directly or indirectly, acting individually or through any corporate or other entity, if RBI Corporation fails to fully and promptly comply with the above provisions.
  4. The provisions of this Consent Order shall be binding upon RBI Corporation, its officers, directors, employees, agents, successors and assigns, and those persons in active participation with it, directly or indirectly, acting individually or through any corporate or other entity.
  5. The provisions of this Consent Order shall not limit, estop, or otherwise affect the civil or criminal liability of RBI Corporation for acts committed before the effective date of this Consent Order.
  6. This Consent Order shall become effective immediately upon the date of its issuance.
  7. In accordance with the terms of the Consent Agreement entered by RBI Corporation and the Commissioner, RBI Corporation has waived all rights of appeal that it may have.
  8. 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.
  9. This Consent Order and the Consent Agreement 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.

By ORDER AND direction of the Commissioner of Banks.

Dated at Boston, Massachusetts, this 11th day of July, 2008.

By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts

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