EFA Processing Signs Consent Order

The State of Connecticut has just entered into a consent order with EFA Processing and Ken Talbert over debt relief help offered to State residents.

According to , EFA Processing “voluntarily agrees to consent to the entry of the Consent and Agreement described below without admitting or denying any allegation or any claim contained in the Order and Notice and set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings.”

The issue appears to surround the issues “EFA engaged in debt negotiation in this state without the required license.”

Under the terms of this agreement:

1. EFA shall remit to the Department of Banking the sum of One Hundred Seventy-Five Thousand Dollars ($175,000) as a civil penalty by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut” in three installments as follows: (a) The first payment of Fifty-Eight Thousand Three Hundred Thirty-Three Dollars ($58,333) shall be remitted no later than the date this Consent Order is executed by EFA; (b) a second payment of Fifty-Eight Thousand Three Hundred Thirty-Three Dollars ($58,333) shall be remitted no later than January 20, 2014; and (c) a third payment of Fifty-Eight Thousand Three Hundred Thirty-Four Dollars ($58,334) shall be remitted no later than February 20, 2014; and

2. EFA and its successors in interest shall immediately cease and desist from engaging or assisting other persons to engage in debt negotiation in this state without the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes in effect prior to October 1, 2011, and Section 36a-671(b) of the Connecticut General Statutes. – Source