Consent Agreement and Order Regarding M & S Sales & Service, Inc.

COMMO!'WEALTH OF PENNSYLVANIA DEPARTMENT OF BANKING AND SECURITIES, COMPLIANCE OFFICE '" M & S SALES & SERVTCE, 1NC. Docket No. 24 {JOOG1 (IlNK-CAO) CONSENT AGREEiWENT AND ORDER The Commonwealth of Pennsylvania, acting through the Department of Banldng al1d Securities ("Department"), Compliance Office ("Office"), hus reviewed tho business practices of M & S Sales & Selvice, Inc. ("M & S") nnd its officers, employees, and directors, Based on the results of its review, the Office concludes that M & S opcrnlecl in violation of the Consumer Credit Code ("CCC") as it relates lo motor vehicle sales finance, 12 Pa.C.S. § 6201 el seq. The parties to the above-captioned matter, in lie\I of litiga1ion, 11ereby stipulate that the following statements are true and correct in the settlement of the abovc-captlol\ed matter and, intending to be legally bmind, hereby agree to the terms of this Consent Agreement and Order ("Order"), BACKGROUND I. The Department is the Co111mo11wcalth of Pennsylvania's administrative agency authorized and empowet'ed to administer and enforce Chapter 62 of the CCC, 12 Pa.C.S. § 6201 et seq. 2, The Office is primarily responsible for administering and enforcing lhe CCC for the Department. 3. M & Sis licensed as an Installment Selle1· #0988 under !he CCC . . 4, 'M & Sis located ut 3385 Division Hwy., New Holland, PA J 7557,

5. On Novcmbe.I' I, 2023, an exa111ine1· from the Deportment co111111enced a routine exmninution ofM & Sat its principal place of business. [dentity Theft Prevention Pl'ogrnm
6. PL1rsmu1t to ·16 CFR Pmt 681, M & S is required to develop and implement u written idenlity · thefl pl'evenlion prngrnm to identify, prevent, and mitigate identily thefl.
7. From in or about Morch 4, 2020, until December27, 2023, M & S foiled to crente un i.dentity theft prevention prngrnm ns requi!'cd by 16 CFR Pa!'I 681. Authority of the Dep<U"tment
8. The CCC grants the Department the l\Uthonty to issue orde!'s as may be necessary fol' the enforcement of the CCC. 12 Pa.C,S. ~ 6203(a)(5).
9. Section 62 I 8(a)(l3) of the CCC states thut the Depal'tment may revoke ol' snspend any license when the llcensee engaged in an illegal practice or C(llldnct .. 12 Pa,C,S. § 6218(u)(l3). I 0. Section 6274 ot'lhe CCC prnvides thut "[u] person requil'ed to be licen,~ed under this chapter that vio!Mes this chaptel', directs u violation of this chapter OI' engages in an activity for which a license con Id be suspended ol' revoked undei· section 6218 (relating to !'evocation or suspension of I icense) shal I be snbject to a civil penalty levied by tile depal'lment of not more than $2,000 fol' each offense," 12 Pa.C.S. § 6274. VIOLATION
10. M & S violated 16 CPR Part 681 when it failed to havl;) a writte1i identity theil prevention . . . progrnm lo identify, protect, and mitigate identity theft. RELIEF
11. Fine. M & S agrees to pay a fine of live hundred doll nm ($500). Payment is due within thirty (30) days of the Effe~tivc Dale of the On\e1· as defined tt1 parngraph 20 below. Tbc line payment shall be made through the Dopai·tmcnt portal at https://www.portal.dobs.pa.gov, 2

13, Corrective Action, o, Upon the Effective Date of this Order, M & S 1drnll maint~_in a written identity theft preve11tion prngrnm at al! times, b. M & S i;lrn!! comply with the CCC at all times. FURTHER PROVISIONS 14, Consent. M & S hereby knowingly, willingly, voluntarily and irrevocably consents to the entry of this Order p111·s1rnnt to the Department's order authority under the CCC and agt'ees that it understnnds all of the terms nnd conditions contnined herein, M & S, by voluntarily entering into this Order, waives nny right to a !tearing or appeal concerning the terms, conditions and/or penulties set forth in this Order. 15, Consumer's Rights, Tb is Order shall not limit or impair any consumer's l'ights under CCC, 12 Pa,C,S, § ,6236. 16. Publication, The Depurtment will publish this Order pursuant to its n11thority in Section 302,A,(5) of the Depa1tment ofBnnking and Securi1ies Code, 7,1 P.S, § 733-.102,A,(5), 17. Enlire Agreement This Order contains the whole agreement between the part.ies, There are no other terms, obligations, covenants, representatioiis, statements, conditions, or otherwise, of any kind whatsoeve1· conceming tl1is Order, This Ordet' may he amended in writing by mutual agreement by the Office and M & S, 18, Binding Nature, The Department, M & S, aml all officers, owners, directors, emj)loyees, 'heirs and assigns ofM & S intend to be and are legally bound by the terms of this Order, 19, Counsel. This Order is entered into by the patiies upon foll opportunity for legal advice from legal counsel, 20, Effectiveness, M & S hereby stipulates and agrees lhat the Order shall become cffoclivc on the date 11rnt lhe Office executes lhis Order ("Effective Date"), 3

2 l. Other Enforcement Action. a. The Department resenies all of its rights, duties, and autlwrity to enforce all statutes, rules and regulations under its jurisdiction against M & S in the futllt'e l'egarding all matlers not resolved by tlus Order b, M & S nclmowledges and agrees that this Order is only binding upon the Dep11rtme11t and not any other local, state 01· federal agency, deparlment 01· office regarding matters within this Order 22. Authoriznliot1. The p11r1ies below ure authorized to execute this Order und legally bind their respective purlies. 23, Couttteqmrts. This Order may be executed in separate cou11te1lJarts 1111d by facsimile m electronic format. 24. Titles. The titles used to identify the parngrnphs of this document 111·e for the convenience of reference only und do not control the interpl'etation of this document. WHEREFOHE, in consideration of the foregoing, including the recital paragraphs, the Depa1im~nt ofBa11Jm1g and Secmities, Compliance Office and M & S Sales & Service, foe., intending to be legally bound .• do hereby execute this Consent Agreement a1td Order 4

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