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Paragon Air

Paragon Air, Inc. 2009-7-17

This consent order concerns the failure of Paragon Air, Inc., ("Paragon") to comply with (1) the requirement, implemented by 14 CFR Part 374, to make prompt credit card refunds as required by the Consumer Credit Protection Act and Regulation Z of the Board of Governors of the Federal Reserve System, 15 U.S.C. ยงยง 1601-1693r and 12 CFR Part 226 and (2) Department enforcement case precedent that requires that cash refunds be made within 20 days of receipt of full documentation of such a request.