Zol3 v Q I DOCKETED STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION 5 2Uf j LEGAL IN RE Proceeding TMX FINANCE OF FLORIDA INC Administrative a InstaLoan b d No 13 04 F 3278 Respondent FINAL ORDER The State of Florida Office ofFinancial Florida Inc Agreement Respondent last dated Regulation the Office entered havii2013 ng into the attached resolving and and TMX Finance of Stipulation concluding and Consent this matter IT IS ACCORDINGLY ORDERED 1 The Stipulation Finance of Florida Inc reference if set forth at as and Consent Agreement attached hereto is adopted by the Office and incorporated by length 2 The Office and TMX Finance of the entered into between the Office and TMX incorporated Stipulation and Consent DONE AND ORDERED this Florida Inc shall comply with all provisions of Agreement lS fly of April 2013 in Tallahassee Florida 1 DREW J BREAKSPEAR Commissioner Office ofFinancial Regulation Leon County NOTICE OF RIGHTS TO JUDICIAL REVIEW A PARTY WHO IS ADVERSELY AFFECTED BY THIS FINAL ORDER IS ENTITLED TO JUDICIAL REVIEW PURSUANT TO SECTION 120 FLORIDA 68 STATUTES REVIEW PROCEEDINGS ARE GOVERNED BY THE FLORIDA RULES OF APPELLATE PROCEDURE SUCH PROCEEDINGS ARE COMMENCED BY FILING AN ORIGINAL NOTICE OF APPEAL WITH THE AGENCY CLERK OF THE OFFICE OF FINANCIAL REGULATION THE FLETCHER BUILDING SUITE EAST GAINES BOX 0379 OR STREET TALLAHASSEE FLORIDA 32399 8050 TALLAHASSEE BY THE FILING FEES AS APPEAL FLORIDA REQUIRED 8050 32314 BY LAW 200 BY MAIL TO P O AND A COPY ACCOMPANIED WITH THE DISTRICT COURT OF FIRST DISTRICT 2000 DRAYTON DRNE 0950 32399 526 TALLAHASSEE FLORIDA OR WITH THE DISTRICT COURT OF APPEAL IN THE APPELLATE DISTRICT WHERE THE PARTY RESIDES THE NOTICE OF APPEAL MUST BE FILED WITHIN 30 DAYS OF RENDITION OF THE ORDER TO BE REVIEWED CERTIFICATE OF SERVICE I HEREBY CERTIFY that Administrative Proceeding Schmidt Esq General a true and correct copy of the foregoing Number 3278 13has been furnished 4 F Counsel TMX Finance of 200 Savannah Georgia 31401 this TMday Florida Inc by Final Order in S MAIL to Brian U 420 15 Bull Street Suite of April 2013 AM LLI j OGLO Intenm lt Cl hief Counsel Fla Baz No 874876 com Oglo@flofr Bill SCOTT A TAVOLIERI Asst General Counsel Fla Bar No 090239 400 W Robinson 225 Street S 1799 Orlando Florida 32801 fax 0806 245 407 0608 245 407 com Tavolieri@flofr Scott STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION IN RE Proceeding TMX FINANCE OF FLORIDA INC Administrative a b d InstaLoan 04 F 3278 No 13 Respondent STIPULATION AND CONSENT AGREEMENT The State of Florida Office ofFinancial aInstaLoan I b Florida Inc d MX or promises herein recite stipulate 1 Bacheround consumer Respondent TMX Finance of in consideration of the mutual and agree as follows TMX is address of 15 Bull Street Suite 200 five active Regulation Office and an active foreign corporation Savannah Georgia 31401 with a principal TMX presently maintains finance licenses issued by the Office pursuant to Chapter 516 Florida Statutes with locations in Pensacola Ft Walton Beach and Jacksonville Between December 2and February 25 2013 TMX submitted applications for six additional 4 20 finance licenses Those applications aze presently pending In anticipation ofthis thatthe Office conduct examination an planned expansion of it examination of its business EXM 37359 operations in Florida TMX in this state practices requested Consequently an ofthe TMX office located at 8945 Pensacola Boulevard Pensacola Florida 32534 CF9900805 through July 31 2012 consumer was conducted This office formerly operated for the period of April 14 2011 under the fictitious name TitleMax Auto Loans Based grounds on this review the Office ofFinancial exist to initiate an administrative Regulation proceeding against is ofthe opinion that TMX Finance of Florida Inc In TMX Finance of Florida Inc 2 of 9 re Page pursuant Chapter 516 to Florida Statutes to initiation of any formal parties have elected to settle the matters and enforcement of Chapter Office has jurisdiction to 516 dragged Florida Statutes and the roles promulgated thereunder The bring this administrative action against Respondent pursuant Findines to The Office finds that Respondent violated the sections ofthe Florida Statutes and or the rules ofthe Florida Administrative Code Respondent neither admits Endings nor denies the allegations Florida Statutes during b Respondent had instead Statutes consumer disclosed during specifically a maximum allowed rate compute and disclose the annual percentage in all reviewed loan agreements in violation ofSection s Respondent c in violation ofSection actually paid Respondent corrected computer system was initially applying the interest rate to arrive at the estimated interest and for accrual this issue in each the examination Respondent failed to accurately APR below actually charged Agreement reviewed which ofren exceed the interest rate that the this issue set out ofthe Office but consents to the entry to disclose the rate ofinterest Vehicle Secured Consumer Finance Loan 1 15 516 as below Respondent failed a rate with the administration 516 Florida Statutes 3 ofthe prior proceeding Jurisdiction The Office is the state agency 2 Chapter The 516 Florida 2 031 stated APR Respondent as the also corrected the examination Respondent charged for an automobile club the payment for which is not authorized deduction allowed under Section Respondent intended for such payment to be made as a 3 031 516 Florida Statutes distribution on behalf ofthe a In re vDC Finance of Florida Inc T Page 3 of 9 borrower as authorized the distribution by was made Rule 69V 60 d Florida Administrative Code However I 018 directly by the Respondent from therefore did not indicate that the disbursement the was made on proceeds ofthe loan and behalf ofthe borrower as required d loan Respondent failed to fully support by specifically failing to properly post Section 5 a 3 031 516 corrected this issue 4 and Rule during the 2 018 160 69V Florida Administrative Code parties agree that the their execution ofthis Stipulation and Consent Stipulation and Consent and that further Agreement Agreement and obligations terms duties and responsibilities with respect compromise and settlement ofthe forbearance from further the to Respondent examination Terms and Conditions The have read this charged the Florida documentary stamps in violation of expeditiously resolved without aformal hearing they all official fees that were foregoing findings and litigation or aformal The fully issues raised litigation can can be be avoided by that parties acknowledge understand the rights in Therefore to its wntents s in consideration ofthe Office hearing Respondent agrees to the following germs and conditions a CORRECTIVE ACTION AND FUTURE COMPLIANCE shall henceforth strictly comply with all provisions Statutes and the rules specifically include i Distributions on of Chapter 516 Florida promulgated pursuant thereto but is not limited to the Respondent Such compliance following behalfofBorrowers Respondent will ensure that future distributions on the borrower s behalf shall are accomplished Specifically Respondent agrees properly it will cut all structured and a separate check for In re TMX Finance of Florida inc Page 4 of 9 the third sfees party made payable to the customer The customer would then endorse the check and Respondent would forward the check to the third party vendor Respondent Agreement to shall have comply with ii Release and Recording placed on released where of Liens Respondent will ensure that all Respondent specifically agrees new loan contract match iii Advertising shall not act or operate so loan public b as a as a itself to the as a title loan office unless properly specifically agrees suggests that it offers title loans location at which a ADMINISTRATIVE FINE time ofexecution and delivery and if a ender makes Respondent or or Respondent public as a title licensed under loan Chapter that it will not advefise holds itself out to the services title loans agrees to pay to the Office at the ofthis Stipulation and Consent Agreement administrative fine in the amount of Four Thousand dollars payable by refinancing Title Loan Lender lender represent 537 Florida Statutes Respondent a manner that a that the date ofthe lien and the date ofthe Holding itselfout as a title that when there is has been recorded the lien will be released Tien is taken re recorded in liens it has collateral offered by its customers are properly recorded and a lien on a title or 60 days after the execution ofthis the terms ofthis subparagraph new lender sixty scheck and made cashier payable to the an 000 4 00 Department ofFinancial Services Such shall be sent to the attention ofScott Tavolieri Assistant General Counsel at the following address Orlando Regional Office 1799 Robinson Street Snite 5 225 Orlando Florida 32801 400 W Respondent In re TMX Finance of Florida Inc Page 5 of 9 31 Florida Statutes agrees that 1 in accordance with Section 215 the deposit ofmonies that the tendered fine be deposited in advance of full execution settlement agreement and or 2 such deposit or settlement check acceptance ofthe regarding proceeds may proposed shall not be construed as a Snal acceptance ofthe Stipulation absent full execution thereof and entry ofthe Final Order adopting c same APPROVAL OF PENDING APPLICATIONS payments required herein approve the Upon receipt of all and entry ofthe Final Order the Office agrees to following applications for licensure filed by TMX Finance of Florida Inc File No Transaction Street Address City 1756 45806 5711 PHILLIPS HIGHWAY JACKSONVILLE 1757 45807 4685 HIGHWAY 90 MILTON 1758 45808 2230 S HIGHWAY 77 LYNN HAVEN 789 45830 2418 N MONROE ST TALLAHASSEE 1792 45833 3100 E COLONIAL DRIVE ORLANDO 1793 45834 2395 SW COLLEGE ROAD OCALA In the event that prior to entry ofthe Final Order adopting this Agreement the Office discovers additional information not set forth herein which is adverse to the Applicant sapplication for bound by the terms ofthis stipulation registration the and may deny the Office shall not be application or and Tn re TMX Finance of Florida Inc Pege 6 of 9 seek any other remedy allowed by on 5 Order the allegations Final Order which incorporates Respondent Consent ofthe Commissioner ofthe Office ofFinancial Final Order adopting same by the and Consent Stipulation Stipulation and any remedy based Stipulation conserds to the issuance the terms ofthis understands and agrees that this approval set forth in this applicable law including Office ofa Final Agreement Respondent Agreement is subject Regulation to the final and the entry ofthe hi the event that the Final Order is not entered this Stipulation and Consent Agreement shall be null and void The Final Order incorporating this Stipulation and Consent Agreement constitutes final agency action the Office may seek enforcement pursuant to the provisions by the Office for which ofChapter 516 and 120 Florida Statutes 6 Waiver consent to the entry ofa Final Order with respect By Respondent s to this proceeding T MX Finance of Florida Inc waives a any right to separately b any right to receipt stated Findings of Fact and Conclusions of Law of a Notice ofRights pursuant to Chapter 120 Florida Statutes c any right to pursuant d any to right to including Statutes an hearing or issuance ofa recommended order Chapter 120 Florida Statutes contest in any administrative forum but not limited to an appeal Stipulation Upon or pursuant the validity of any term condition created in this Releases administrative judicial proceeding to Secfion obligation or 68 Florida 120 duty expressly anal the Final Order full execution ofthis Stipulation and Consent Agreement In re Page 7 TMX Finance of Florida inc of 9 Respondent waives releases and and employees from have arising any and all forever dischazges the Office and its agents causes of out ofhis matter The Office expressly denying 8 that any such right Failure to Comply s failure Respondent Stipulation to comply and Consent action in law or in equity which Respondent may accepts this release and waiver by Respondent representatives and employees behalf of itself its agents or cause Respondent acknowledges order compliance may non However nothing herein acknowledging and concurs obligations and Chapters a violation ofthe 120 and 516 Florida result in the issuance of an emergency shall be construed to limit that stipulates and conditions of this and the Final Order adopting it is written agreement and the Final Order entered pursuant to Statutes Such without on ofaction may exist with any ofthe terms Agreement representatives cease s rights to Respondent and desist contest any finding or determination ofnon compliance Attorneys fees Each party herein shall be 9 costs and to and for its separate attorneys fees incurred in the prosecution defense or negotiations in this including 10 entry ofthe Final Order adopting this Severability Consent Agreement the solely responsible Stipulafion or the The parties and Consent Agreement will be and to this end the provisions ofthis 11 Counterparts This any number ofcounterparts and deemed to be an original Consent Agreement Stipulation agree that if any application thereof to by the parties provision any person or ofthis ofthis and circumstance is held invalid declared severable and Consent Agreement may be executed in in separate counterparts each ofwhich wil l be but all of which together will constitute but one Copies Stipulation given effect without the invalid provision Stipulation are Stipulation matter up Stipulation and Consent Agreement Stipulation transmitted and by In re TMX Finance of Florida Inc Page8of9 facsimile or electronic mail shall have the same 12 Authoritv has full authority Stipulation in consideration ofthe on space original signatwe of TMX Finance ofFlorida Inc the terms and conditions ofthis foregoing execute this Stipulation and Consent attached hereto this Respondent to an Agreement WHEREFORE as if bearing undersigned representative to enter into and bind and Consent Florida Inc The validity as the Office and TMX Finance of Agreement for issuance of aFinal Order the last date executed below iruentionally blank with signatures appearing onfollowing page In TMX Finance re Page of Florida Inc of 9 9 TMX bFFLORIDA FINA1 INC ey Date Print Title Oy 0 3 ED C STATE OF COUNTY OF undersigned authority personally appeared B FORE ME the as states that she he in Administrative SWORN Proceeding Number TO AND 04and F 3278 13 SUBSCRIBED voluntarily signed before 2013 Personally OR me the same this day of j known produced Type Iola Ti of TMX Finance of Florida Tnc who upon beitr d Ily s om has read and understands the foregoing Stipulation and Consent Agreement identification IGA MARIE a JE TARBUCK It Chemgm C Notary R wbr GA of Identification produced abn My Gom OFFICE OF FINANCIAL REGULATION P L fl Gregory C hector Division ofConsumer Finance Date H o1 mlrea fpF 8 2l