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Order Issued Pursuant to New York Banking Law Section 39 In the Matter of C.L.B. Check Cashing

  State of New York
Banking Department


In the Matter of
C.L.B. CHECK CASHING, INC.
New York , New York
Order Issued Pursuant to
New York Banking Law
Section 39

WHEREAS, C.L.B. CHECK CASHING, INC. (“C.L.B.”), located at 222-06 South Conduit Avenue, Springfield Gardens, New York and through other licensed locations (See Exhibit A), is licensed by the State of New York Banking Department (“Banking Department”) to engage in the business of check cashing, pursuant to Article IX-A of the New York Banking Law (“Banking Law”); and

WHEREAS, on July 25, 2006, C.L.B., certain senior officers (President Louis Renzo, Senior Vice President William DeRespino and Former Compliance Officer James Gass) of C.L.B., and related affiliated companies (C.L.B. Management Corp; C.L.B. #6, Inc., C.L.B. #3 Corp., and GAS CHECK CORP. II) were indicted for various felony crimes including bribery, money laundering, and rewarding official misconduct (See Exhibit B); and

WHEREAS, the New York Superintendent of Banks (“Superintendent”) is responsible for ensuring the safe and sound operation of the institutions and entities that the Banking Department licenses and regulates, to make certain that such institutions and entities operate in an authorized manner, and to take such actions as may be necessary in order to protect the public interest, as set forth in Section 10 of the Banking Law; and

WHEREAS, in order to provide for the operations of C.L.B. in a safe and sound manner, the Superintendent believes that prompt action is necessary to protect the public interest and to address the Department’s supervisory concerns, regarding C.L.B. and that additional enforcement action(s) may be necessary to address other supervisory concerns that may come to the attention of the Superintendent;

NOW, THEREFORE, it is hereby ordered that:

Due to the critical nature of the circumstances surrounding the indictment of C.L.B., its senior officers, and affiliated companies, and for the benefit of public interest, this Order shall become effective upon the date of its execution.

Witness , my hand and official seal of the Banking Department at the City of New York, this 15th day of August in the Year two thousand six.

___________________________

Diana L. Taylor
Superintendent of Banks