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Home > Banking Division > Enforcement Activity >2019 OCF Licensee Enforcement
2019 Office of Consumer Finance Licensee Enforcement
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December

Orders to Show Cause
Irene Auto Sales Inc – North Bergen, NJ
Reference # 1300032
Order No. E19-019981, December 23, 2019. N.J.S.A. 17:16C-2, no person shall engage in or continue to engage in the business of a motor vehicle installment seller in this State without first obtaining a license from the Commissioner as provided for in the Act. Respondent’s motor vehicle installment seller license expired on July 1, 2017 and renewed October 23, 2018. Respondent sold at least three (3) automobiles with accompanying installment sales contracts despite being unlicensed July 1, 2017 through October 23, 2018. N.J.S.A. 17:16C-2; N.J.S.A. 17:16C-10(a)(1), (a)(5), and (a)(6); and N.J.S.A. 17:16C-55.  Commissioner to assess civil penalty of not more than $1,000 for each violation of the Act, pursuant to N.J.S.A. 17:16C-55.

Thomas Clericuzio/Affordable Auto Detailing & Sales
– Neptune, NJ
Reference # 1200291
Order No. E19-019664, December 23, 2019. N.J.S.A. 17:16C-2, no person shall engage in or continue to engage in the business of a motor vehicle installment seller in this State without first obtaining a license from the Commissioner as provided for in the Act. Respondent’s motor vehicle installment seller license expired on July 1, 2017 and renewed September 10, 2018. Respondent sold at least seven (7) automobiles with accompanying installment sales contracts despite being unlicensed July 1, 2017 through September 10, 2018. N.J.S.A. 17:16C-2; N.J.S.A. 17:16C-10(a)(1), (a)(5), and (a)(6); and N.J.S.A. 17:16C-55.  Commissioner to assess civil penalty of not more than $1,000 for each violation of the Act, pursuant to N.J.S.A. 17:16C-55.

Consent Order

GB Check Cashing LLC – Pennsauken, NJ
Talvinder S. Ghuman, Respondent
Reference # 9941061
Consent Order E19 GB Check Cashing, July 1, 2019. Whereas, the information charged GB Check Cashing with knowingly failing to file Currency Transaction Reports, in violation of 31 U.S.C 5313(a) and 5324(a) and the regulations promulgated thereunder, from on or about September 20, 2010 through on or about June 14, 2011, in Camden, Mercer and Middlesex Counties. The information further charged for failure to file said Currency Transaction Reports. Penalty: $30,000

 
November

Orders to Show Cause

Rodriguez 21st Ave Service Center, Inc – Paterson, NJ
Reference # 1602443
Order to Show Cause E19-019902, November 25, 2020. The respondent was unlicensed from July 1, 2017 to May 1, 2019 and sold at least two (2) automobiles with accompanying installment sales contracts in New Jersey and violated J.S.A. 17:16C-2, 17:16C-10(a)(1), (a)(5) and (a)(6) and 17:16C-55. Penalty no more than $1,000 for each violation of the Act, pursuant to N.J.S.A. 17:16C-55.

GEM Auto Sales LLC – Irvington, NJ
Reference # 1000258
Order to Show Cause E19-019898, November 25, 2020. The respondent was unlicensed from July 1, 2015 to February 28, 2019 and sold at least three hundred ninety-nine (399) automobiles with accompanying installment sales contracts in New Jersey and violated J.S.A. 17:16C-2, 17:16C-10(a)(1), (a)(5) and (a)(6) and 17:16C-55. Penalty no more than $1,000 for each violation of the Act, pursuant to N.J.S.A. 17:16C-55.

Cali Auto Sales Inc – Elizabeth, NJ
Reference # 1200435
Order to Show Cause E19-019895, November 25, 2020. The respondent was unlicensed from July 1, 2017 to March 19, 2018 and sold at least eight (8) automobiles with accompanying installment sales contracts in New Jersey and violated J.S.A. 17:16C-2, 17:16C-10(a)(1), (a)(5) and (a)(6) and 17:16C-55. Penalty no more than $1,000 for each violation of the Act, pursuant to N.J.S.A. 17:16C-55.

 
July

Consent Order

Barry’s Jewelry Loans, Inc. – East Brunswick, NJ
Susan Stojkovic, Owner
Reference # 1300560
Consent Order E19-019849, July 1, 2019. Whereas it appears the licensee may have violated the following: N.J.S.A. 45:22-22 Interest chargeable; exceptions; N.J.A.C. 3:16-2.1 Recordkeeping; reporting and the such as per Consent Order. Licensee agrees to immediately cease charging its customers fees in excess of those allowed by Law, properly record all of its fees it collects as required, resubmit the corrected Annual Reports for 2015 through 2017, amend its pawn tickets to make same fully compliant with the Law, properly post its license and fee schedule, and provide its customers affidavits upon instances of lost pawn tickets as indicated in the Report of Examination. Penalty: $3,000

Notices of Violation, Conditional Order Suspending License and Imposing Fines, and Contigent Final Orders

M A B Cars, Inc. – Little Ferry, NJ
Miguel Baez, Owner
Reference # 1502033
Order AR18-1502033, Order date: June 8, 2018. Letter dated: July 1, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Satisfaction Letter issued – Licensee failure to file Annual Report for the year ending December 31, 2017 by May 1, 2018. Penalty: $2,000

GF Financial, Inc. – Newark, NJ
Fran D’Amore, Owner
Reference # 9600828
Order AR18-9600828, Order date: June 8, 2018. Letter dated:  July 1, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Notice of Rescission - Licensee failure to file Annual Report for 2017 by May 1, 2018.  Penalty: $2,000

Prima Brothers, Inc – Lindenwold, NJ
Mohammend F. Ahmad, Owner
Reference # 0803643
Order AR19-0803643, Order date: June 7, 2019. Letter dated: July 3, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Notice of Rescission - Licensee failure to file Annual Report for 2018 by May 1, 2019.  Penalty: $2,000

A1 Auto Sale, LLC – Lodi, NJ
Ahmed Dahhan, Owner
Reference # 1702731
Order AR18-1702731, Order date: June 8, 2018. Letter dated: July 3, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Satisfied letter issued - Licensee failure to file Annual Report year ending December 31, 2017 by May 1, 2018. Penalty: $2,000

 
June

Consent Orders

Paras Palak, Inc. – Sicklerville, NJ
Minesh Patel, Owner
Reference # 9950739
Consent Order E19-019776, June 1, 2019. Whereas it appears that Licensee may have violated items within Check Cashing duties therefore noted within N.J.S.A.17:15A-44, Duties of Check Casher, N.J.S.A.  17:15A-47, Prohibited Transactions and N.J.A.C. 3:24-5.1 Procedure. Licensee has agreed to provide a formal response to the Report of Examination as directed therein and to take the necessary measures to ensure compliance with all applicable statues and regulations pursuant to the Act. The licensee will also provide documentation supporting its check cashing business volume for calendar year 2017. Penalty: $13,750

MLB Residential Lending, LLC – Springfield, NJ
Samuel P. Lamparello, CEO
NMLS #1101220
Consent Order E18-019059, June 3, 2019. Licensee will take the appropriate measures to prevent any individuals including those working from its branch office(s) from engaging in unlicensed activity or assisting MLO’s pursuant to N.J.S.A 17:11C-54c(1)(a). and N.J.S.A. 17:11C-75c. prohibited practices, violations. Ensure that its loan documentation, electronic records, and advertisements are accurate and compliant.
Penalty: $34,000

Atlantic Home Loans, Inc. – Parsippany, NJ
Brian Kim, Compliance Officer
NMLS #15244
Consent Order E17-018156, June 5, 2019. Whereas it appears that the Licensee may have violated N.J.A.C. 3:1-16.1. Licensee shall issue commitments following the receipt of a satisfactory underwriting analysis of the appraisal and/or credit report. Penalty: $2,250

Latin Enterprises, LLC d/b/a United Check Cashing – Jersey City, NJ
Jorge Rodriguez, Owner
Reference # 1000275
Consent Order E19-019796, June 17, 2019. Whereas it appears that the Licensee may have violated several items within N.J.S.A. 17:15A and within N.J.A.C. 3:24 as shown within the attached Consent Order. Licensee as agreed to provide formal response to the Report of Examination and to make refunds directed therein pursuant to the ‘Corrective Action’ section of same. The Licensee will provide proof to the Department of all refunds as directed in the ROE. The Licensee also agrees to take the necessary measures to ensure compliance with all applicable statues and regulations pursuant to the Act. Penalty: $12,500

St. Fin Corp. – Laguna Hills, CA
Timothy Matthews, President/CEO
NMLS #1429
Consent Order E19-019775, June 17, 2019. Whereas it appears that the Licensee may have violated N.J.A.C. 3:1-16.2 fees and N.J.A.C. 3:1-16.5 Commitment process and N.J.A.C. 3:1-16.3 Application process. Licensee will ensure that all future commitments issued will be compliant and provide its New Jersey customers with a valid New Jersey Application Disclosure in a timely manner.  Penalty: $16,750

Colaianni Enterprises, Inc – Lakewood, NJ
Nicholas Colaianni, President
Reference # 1300078
Consent Order E19-019641, June 17, 2019. Whereas it appears that the Licensee may have violated the following N.J.S.A 17:16C-40.1 Loan secured by purchase money security interest to finance purchase of motor vehicle. N.J.S.A. 17:16C-45 Limitation on sale, transfer or assignment of obligation or evidence of indebtedness by retail seller. Licensee agrees to ensure that all future retail installment sales contracts subject to the act do not exceed the repayment term limit of forty-eight months. Verify all assignees not exempted by the Act are properly licensed by the Department. Licensee provided three contracts subject to the Act that were in excess of the forty-eight-month limit. Penalty:  $7,500

 
May

Notices of Violation, Conditional Order Suspending License and Imposing Fines, and Contigent Final Orders

Audi Newtown/JDN VW, LLC – Newtown, NJ
Joseph Natale, Managing Member
Reference # 10000203
Order AR18-1000203, May 8, 2019. Notice of Rescission - Licensee failure to file Annual Report for 2017 by May 1, 2018.  The Department accepts the filing of the Annual Report for the year ending 12/31/16 and filing of the Dealer Termination and Settlement Agreement.  Penalty: $2,000

LGH & Associate, LLC – Perth Amboy, NJ
Louis Hoyos, Owner
Reference # 1000445
Order AR18-0508386, Order date: June 8, 2018. Letter dated:  May 14, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year.  Satisfaction Letter issued- Licensee failure to file Annual Report for the year ending December 31, 2017 by May 1, 2018.  Penalty: $2,000

Consent Orders

McCall’s Liquor Corp. – Newark, NJ
Teofilo Lopez, President
Reference # 8600190
Consent Order E19-019739, May 22, 2019. Licensee will take the necessary compliance measures to promptly correct all cited violations such as but not limited to N.J.S.A. 17:15A-36 Fingerprints and background check required, duties of check cashing licensee, and N.J.A.C. items 3:24-2.1 (3:24-5.2, 5.3 and 5.6) Proof of net worth; record requirements.  Penalty: $19,000

Cash N Carry, LLC – Asbury Park, NJ
Rakesh Patel, Compliance Officer
Reference # 9943619
Consent Order E19-019835, May 17, 2019. Whereas it appears that Licensee may have violated the following N.J.A.C. 3:24-5.4 Daily cash reconciliation. Licensee has agreed to maintain a compliant daily reconciliation form as required. The daily reconciliation did not contain all the elements required, most notably, it did not indicate the total deposits made during the day. Penalty: $2,500

Gold & Diamond Trading, Inc. – Harrison, NJ
Jacques Malki, Owner
Reference # 1602535
Consent Order E19-019777, May 23, 2019. Licensee may have violated N.J.S.A 45:22-7 Pawnbroker’s bond; actions on- The last examination of the Licensee determined a lapse in surety bond coverage for period of January 1, 2018 through August 6, 2018. Penalty: $500

LGH Associate, LLC – Paterson & Perth Amboy, NJ
Louis Hoyos, Owner
Reference # 0508386
Consent Order E18-019309, May 29, 2019. Whereas it appears that Licensee may have violated the following N.J.S.A. 17-15A-44 Duties of checking cashing license. Repeated violations. Licensee shall ensure compliance with the regulatory requirements of the Check Cashing Regulatory Act of 1993.  Penalty: $5,000   

North Brunswick Auto – North Brunswick, NJ
Raymond Kassas, Respondent
Reference # 1602429
Consent Order AR17-1602429 AR 18-1602429, May 1, 2019. Whereas it appears that Licensee failed to file the 2017 annual report by May 1, 2018 and failed to file 2016 annual report by May 1, 2017. N.J.S.A 17:16C-10 and -19 and N.J.A.C. 3:1-7.6, the Commissioner is authorized to take action on the license of a licensee who fails to file an annual report.  Penalty: $2,255

 
April

Consent Orders

West Park Financial Corp. – Oakhurst, NJ
Donald Rindner, President
NMLS #988065
Consent Order E19-019748, April 9, 2019. Licensee was found in violation of N.J.A.C. 3:15-8.3 Prohibited types of advertising and has agreed for purposes of settlement to take immediate measures to ensure that all such future transmittals to New Jersey residential mortgage loan borrowers are properly licensed individuals and comply with both state and federal advertisement requirements.  Penalty: $2,500

Shiv Krupa Cash Services, LLC – Bridgeton, NJ
Biren Patel, President
Reference # 1200073
Consent Order E19-019761, April 22, 2019. Licensee violation of N.J.A.C. 3:24-5.6 Dual business and deposit record requirements; and agreed to resolve issue by completing a commingling exemption form to promptly correct this repeat violation. Penalty: $2,250

Sunsup Kwak d/b/a Suns Pawnbroker Co.Paterson & Paramus, NJ
Sunsup Kwak
Reference # 9601243
Consent Order E19-019750, April 25, 2019. Violation of N.J.S.A. 45:22-13 Pawnbroker’s records; details of and N.J.S.A. 45:22 Pledgor ticket; Contents.  Licensee shall agree that its pledge book properly identifies all customer addresses as required. Provide an updated and compliant pawn ticket and provide retroactive fire insurance policy for $300,000.  Penalty: $1,500

Notices of Violation, Conditional Order Suspending License and Imposing Fines, and Contigent Final Orders

Nergers Auto Express, Inc – Bound Brook, NJ
Brian Nerger, Owner
Reference # 0509185
Order AR18-0509185, April 29, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Satisfaction Letter issued - Licensee failure to file Annual Report for the year ending December 31, 2017 by May 1, 2018.  Penalty: $2,000

Rodriguez 21st Ave Service Center – Paterson, NJ
Wahed Razzak, Owner
Reference # 1602443
Order AR17-1602443, April 30, 2019. Violation of N.J.A.C. 3:1-7.6; individuals or entities licensed by the Department of Banking and Insurance are required to file an annual report for the preceding year on or before April 1 of each year. Satisfaction Letter issued - Licensee failure to file Annual Report for year ending December 31, 2016 by May 1, 2017.  Penalty: $2,000

Majestic Auto, Inc – New Brunswick, NJ
Arkady Mushailov, President
Reference # 0905314
Consent Order E19-019663, April 30, 2019. Licensee shall ensure compliance with all regulatory requirements. Violation of N.J.S.A. 17:16C-2 Necessity of License. Penalty: $2,000

 
March

Consent Orders

Obsidian Financial Services, Inc – Melbourne, FL
Dianna Griffiths, President
NMLS #1425046
Consent Order E19-019708, March 20, 2019. Violation of N.J.A.C. 3:15-2.13 Responsibilities and replacement of a business licensee’s qualified individual licensee.  Licensee will promptly comply with all the requirements of the Department’s Licensing Bureau to obtain a suitable qualified individual licensee and to ensure that it will promptly replace any future qualified individuals as required.  Penalty: $10,000

City Select Auto Sales, Inc – Burlington, NJ
Mark Pellegrini, President
Reference #8401026
Consent Order E19-019659, March 21, 2019. Licensee shall ensure compliance with all regulatory requirements. Violation of N.J.S.A. 17:16C-2 Necessity of License. Penalty: $5,000

 
February

Consent Orders

Car Complex, Inc – Linden, NJ
Masoud Saatsaz
Reference # 9400890
Consent Order E18-019370, February 13, 2019. Licensee shall ensure compliance with all regulatory requirements. Violation of N.J.S.A. 17:16C-2 Necessity of License. Penalty: $1,000

 
January

Consent Orders

Mortgage NOW, IncShrewsbury, NJ
James Marchese, President/CEO
NMLS # 117338
Consent Order E18-019471, January 31, 2019. Violation of N.J.S.A. 17:11C-75 Prohibited practices, violations.  The Licensee has agreed for purposes of settlement to take measures to ensure all correspondences by employees and or outside contractors disclose accurate information so as not to be misleading to borrowers.  Penalty: $12,500

 
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