155-2-4-.10 Investigative Proceedings – Deferred Presentment Services Act

155-2-4-.10 Investigative Proceedings – Deferred Presentment Services Act (1) Investigations and inquiries are originated upon request or complaint by a member of the public or by the Supervisor. (2) The Supervisor encourages voluntary cooperation in investigations. The Supervisor may invoke any or all of the compulsory process authorized by law, including subpoenas, depositions, and production of records. (3) In case of failure to comply with the Supervisor’s investigative processes, the Supervisor may initiate any authorized action, including license suspension, and petitioning any court of competent jurisdiction for enforcement. (4) If the investigation finds any violations of the Act or these regulations, the Supervisor may initiate any authorized action, including the assessment of civil penalties, and the issuance of Cease and Desist Orders. (5) In order to avoid the expense and time involved in formal legal proceedings, it is the policy of the Supervisor to afford parties who have engaged in unlawful acts and practices an opportunity to enter into stipulations, agreed settlements, consent orders, or defaults when it appears to the Supervisor that such procedure fully safeguards the public interest. The Supervisor reserves the right in all matters to withhold the privilege of an informal disposition. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, §5-18A-10, §5-18A-11, §5-18A-16, §5-18A-17 and §5-18A-18 History: Effective October 1, 2013