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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
DEBT COLLECTOR LICENSING
Docket No. 2009-013-CO
In the Matter of
WALKER ASSOCIATES, INC.
Debt Collector License No. DC0002
WHEREAS, WALKER ASSOCIATES INC., Boston, Massachusetts, ("Walker Associates" or the "Corporation"), a licensed debt collector under Massachusetts General Laws Massachusetts General Laws chapter 93, section 24 has been advised of its right to Notice and Hearing pursuant to General Laws chapter 93, section 24J, 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 December 4, 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 debt collector, Walker Associates agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, pursuant to General Laws chapter 93, section 24J, the Commissioner issued a FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST, Docket No. 2009-013 (the "Temporary Order"), against Walker Associates on May 15, 2009, based upon the Corporation's failure to notify the Division that Mr. Stephen F. Colohan, president and shareholder had been indicted of three felony counts as required pursuant to the Division's regulation 209 CMR 18.08(1)(b) and the Corporation's failure to maintain a good and sufficient surety bond as required pursuant to Massachusetts General Laws chapter 93, section 24A(a) and the Corporation's alleged failure to demonstrate the character, reputation, integrity, and general fitness that would warrant the belief that the business will be operated honestly, fairly, and soundly in the public interest in violation of Massachusetts General Laws chapter 93, sections 24B(a) and 24G(a), and the Division's regulation 209 CMR 18.03(2)(c).
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Temporary Order;
WHEREAS, in recognition of the Division and Walker Associates 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 4th day of December, 2009.
NOW COME the parties in the above-captioned matter, the Division and Walker Associates, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 4th day of December, 2009
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts