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CT Fidelity Debt Solutions Ass Kicking for June, 2012

Man oh man. If you are a debt relief provider, Connecticut is not one state you want to play around with. Each month we get a new crop of debt relief companies that have run afoul of state regulations. Here is the graduating class for June 2012. Fortunately for debt relief providers there is only one new name to add to the alumni list.

Fidelity Debt Solutions

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes contained in Part II of Chapter 669 of the Connecticut General Statutes, “Debt Adjusters and Debt Negotiation”;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation of the activities of Respondent, pursuant to the authority granted by Section 36a-17(a) of the 2012 Supplement to the General Statutes, to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on May 14, 2012, the Commissioner, acting pursuant to Section 36a-52(b) of the Connecticut General Statutes, Section 36a-671a(b) of the 2012 Supplement to the General Statutes and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on May 15, 2012, the Notice was sent by certified mail, return receipt requested, to Respondent (Certified Mail No. 70112000000247358515) and to Respondent’s agent (Certified Mail No. 70112000000247358222);

WHEREAS, the Notice provided Respondent with the opportunity for a hearing, and stated that if a hearing was not requested within 14 days of its receipt, the Commissioner would issue an order that Respondent cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes, in effect prior to October 1, 2011, issue an order of repayment of fees to specified Connecticut residents, and may order a civil penalty in an amount not to exceed One Hundred Thousand Dollars ($100,000) per violation be imposed upon Respondent;

WHEREAS, on May 18, 2012, Respondent and Respondent’s agent received the Notice and no request for a hearing has been received by the Commissioner;

Having read the record, I HEREBY ORDER, pursuant to Section 36a-671a(b) of the 2012 Supplement to the General Statutes and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes and Section 36a-671a(c) of the Connecticut General Statutes, in effect prior to July 13, 2011, that:

1. Fidelity Debt Solutions, LLC CEASE AND DESIST from violating Section 36a-671(b) of the Connecticut General Statutes, in effect prior to October 1, 2011;

2. Fidelity Debt Solutions, LLC REPAY FEES in the amount of Three Thousand Five Hundred Ninety-Three and 86/100 Dollars ($3,593.86) to the Connecticut resident identified in Exhibit A attached hereto and REPAY FEES received from the Connecticut residents identified in Exhibit B attached hereto by cashier’s check, certified check or money order, no later than ten (10) days from the date this Order is mailed, and shall provide Carmine Costa, Director, Consumer Credit Division, Department of Banking, 260 Constitution Plaza, Hartford, Connecticut 06103-1800, or [email protected], evidence of such repayment;

3. A CIVIL PENALTY of One Hundred Thousand Dollars ($100,000) be imposed against Fidelity Debt Solutions, LLC to be remitted to the Department of Banking by cashier’s check, certified check or money order, made payable to “Treasurer, State of Connecticut”, no later than thirty (30) days from the date this Order is mailed; and

4. This Order shall become effective when mailed. – Source

CT Fidelity Debt Solutions Ass Kicking for June, 2012
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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