Regulatory Alerts2013-10-01
155-2-4-.10 Investigative Proceedings – Deferred Presentment Services Act
The Alabama Bureau of Loans, led by Supervisor Scott Corscadden, establishes procedures for investigating violations of the Deferred Presentment Services Act upon public complaint or internal inquiry. The Supervisor may compel voluntary cooperation or invoke compulsory legal processes, such as subpoenas and depositions, to gather evidence. If violations are found or compliance fails, the Bureau may impose civil penalties, suspend licenses, issue cease and desist orders, or pursue court enforcement, while also reserving the right to negotiate informal settlements.
Share