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MARY ANN SMITH
Deputy Commissioner
SEAN M. ROONEY
Assistant Chief Counsel
MARLOU de LUNA (State Bar No. 162259)
Senior Counsel
Department of Business Oversight
320 West 4th Street, Suite 750
Los Angeles, California 90013-2344
Telephone: (213) 576-7606
Facsimile: (213) 576-7181
Attorneys for Complainant
BEFORE THE DEPARTMENT OF BUSINESS OVERSIGHT
OF THE STATE OF CALIFORNIA
In the Matter of:
THE COMMISSIONER OF BUSINESS
OVERSIGHT,
Complainant,
v.
MINDY NIMOY doing business as
SAN PEDRO PAYDAY LOANS,
Respondent.
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CDDTL LICENSE NO.: 100-3124
ORDER REVOKING THE CALIFORNIA
DEFERRED DEPOSIT TRANSACTION LAW
LICENSE OF MINDY NIMOY DOING
BUSINESS AS SAN PEDRO PAYDAY
LOANS PURSUANT TO FINANCIAL CODE
SECTION 23052, SUBDIVISIONS (a) and (b)
TO: MINDY NIMOY doing business as
SAN PEDRO PAYDAY LOANS
736 South Pacific Avenue
San Pedro, California 90731
The Commissioner of Business Oversight (Commissioner) finds that:
1. Mindy Nimoy doing business as San Pedro Payday Loans (San Pedro Payday Loans
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ORDER REVOKING THE CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW LICENSE
OF MINDY NIMOY DOING BUSINESS AS SAN PEDRO PAYDAY LOANS
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or Respondent) is a deferred deposit transaction originator licensed by the Commissioner under the
California Deferred Deposit Transaction Law (CDDTL) since February 21, 2006. San Pedro Payday
Loans’ principal place of business is located at 736 South Pacific Avenue, San Pedro, California
90731.
2. On August 7, 2017, the Commissioner commenced a regulatory examination of San
Pedro Payday Loans’ books and records (2017 Examination) pertaining to business conducted under
its CDDTL license. The examination revealed numerous violations of the CDDTL as outlined below.
a. At least six customers had documents on file that contained blanks, in violation of
Financial Code section 23037, subdivision (h). The documents that contained blanks included written
agreements and at least two Covered Borrower Identification Statement forms. The required
information that was left blank on the Covered Borrower Identification Statement included: the
customer’s signature date: the licensee’s signature; and the date. San Pedro Payday Loans must not
take any check, instrument, or form in which blanks are left to the billed in after execution. This same
violation was also noted during the previous examination commenced on July 14, 2015.
b. The disclosure notice on customer agreements was deficient, in violation of Financial
Code section 23035, subdivision (g). In paragraph 9 of the agreement, the notice read, “If you have
any complaints or concerns, you may call the Department of Corporations at 1-866-ASK-CORP
(275-2677). As of July 1, 2013, all disclosures should refer to the Department of Business Oversight.
This same violation was noted in the previous examination commenced on July 14, 2015.
c. Respondent was not in compliance with Financial Code section 23018, subdivision
(a), for not verifying whether customers were member of the armed services or dependent of the
member of the armed services. The examination showed that the Covered Borrower Identification
Statement forms used to verify covered borrower status was not provided to the customer or the
customer did not elect one of the options.
d. San Pedro Payday Loans’ CDDTL license was not posted in a conspicuous place, in
violation of Financial Code section 23018, subdivision (a).
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ORDER REVOKING THE CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW LICENSE
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6. Following the conclusion of the 2017 Examination, the Commissioner sent to San
Pedro Payday Loans a regulatory examination letter dated October 23, 2017 noting the violations
found during the 2017 Examination. The regulatory examination letter stated that San Pedro Payday
Loans must reply within 30 calendar days from the date of the letter. The response was due on
November 22, 2017. The regulatory examination letter also stated that failure to comply within 10
days from the due date would result in action being taken against San Pedro Payday Loans, including
a revocation of its CDDTL license. The date to respond to the regulatory examination letter was past
due. San Pedro Payday Loans did not provide any response to the regulatory examination letter.
7. On November 28, 2017, the Commissioner sent a follow-up email to San Pedro
Payday Loans addressed to the designated email address on file. The email notified San Pedro
Payday Loans that the written response to the regulatory examination letter was past due. San Pedro
Payday Loans did not respond to the email or submitted the response to the regulatory examination
letter.
8. On December 1, 2017, a phone call was made to the noted contact person for the
Respondent, Paul Nimoy, at the San Pedro Payday Loans’ licensed location. The individual who
answered the phone stated that Paul Nimoy was not available to take a call. A message was left to
return the phone call or provide the requested written response to the regulatory examination letter
before the close of business on December 4, 2017, or the matter would be referred to the Special
Administrator for administrative action. To date, San Pedro Payday Loans has not provided the
required written response to the regulatory examination letter or returned the phone call of December
1, 2017.
9. On March 29, 2018, the Commissioner issued a notice of intent to revoke
Respondent’s CDDTL license along with an accusation and other accompanying documents (Notice
of Intent to Revoke) based on the above findings. On or around March 29, 2018, the Commissioner
served San Pedro Payday Loans with the Notice of Intent to Revoke at the business address on file
with the Commissioner. San Pedro Payday Loans did not file a request for hearing and the time to do
so has expired.
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10. On May 30, 2018, an email was sent to Paul Nimoy concerning the response to the
regulatory examination letter and the Notice of Intent to Revoke. Paul Nimoy’s answer on June 1,
2018 claimed that he found the regulatory examination letter “buried under paperwork.” With respect
to the reply to the regulatory examination letter, Paul Nimoy wrote, “[if] I am still able to reply to the
letter and keep the license, I will have the reply in the mail on Monday.” Paul Nimoy did not address
the Notice of Intent to Revoke. To date, San Pedro Payday Loans has neither responded to the
regulatory examination letter nor has it filed a request for hearing on the Notice of Intent to Revoke.
Based upon the foregoing, the Commissioner finds it is in the public interest to revoke the
California Deferred Deposit Transaction Law license of Mindy Nimoy doing business as San Pedro
Payday Loans.
GOOD CAUSE APPEARING THEREFORE, IT IS ORDERED that the California Deferred
Deposit Transaction Law license of Mindy Nimoy doing business as San Pedro Payday Loans is
revoked under Financial Code section 23052, subdivisions (a) and (b). This order and revocation is
effective immediately.
Dated: June 12, 2018
JAN LYNN OWEN
Commissioner of Business Oversight
By: ___________________________
MARY ANN SMITH
Deputy Commissioner
Enforcement Division
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ORDER REVOKING THE CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW LICENSE
OF MINDY NIMOY DOING BUSINESS AS SAN PEDRO PAYDAY LOANS
