State of Connecticut Department of Banking

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The Department of Banking News Bulletin 

Bulletin # 2263
Week Ending July 6, 2007

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.


BRANCH ACTIVITY
State Bank Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided.  Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days.  Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
07/02/07
Fairfield County
Bank, Ridgefield
1089 Madison Avenue
Bridgeport, CT 06606
approved
07/05/07
Dime Bank
Norwich
FROM: 601 Norwich-New London Tnpk
         Uncasville, CT 06382
TO:    559 Norwich-New London Tnpk
         Uncasville, CT 06382  
filed to
relocate
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity

Date Check Casher Location Activity
02/07/07 Ecua Express LLC
470 Main Street
Middletown, CT 06457
 filed
06/05/07
Share Financial Holdings, LLC
d/b/a United Check Cashing
161 Boston Avenue
Bridgeport, CT 06610
filed
06/05/07
Jaz Check Cashing LLC
d/b/a United Check Cashing
689 Foxon Road
East Haven, CT 06513
 filed
07/02/07
Jajaj Odimeh
d/b/a Lillys Cash A Check
264 Main Street
Torrington, CT 06790
 approved
Settlement Agreement
On July 3, 2007, the Commissioner entered into a Settlement Agreement with Condor Capital Corp. (“Condor”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that: Condor filed a renewal application for a sales finance license in which Condor answered “No” to the question of whether Condor had ever been a defendant in any litigation filed in connection with the consumer credit business, despite an outstanding case against Condor, in violation of Section 36a-53a of the General Statutes; Condor deliberately failed to pay a civil judgment which is conduct that illustrates a lack of financial responsibility, character, reputation, integrity and general fitness of Condor such as to warrant belief that Condor’s business will not be operated soundly and efficiently, in the public interest and consistent with the purposes of Sections 36a-535 to 36a-546, inclusive, of the General Statutes; Condor failed to respond to a complaint filed with the Government Relations and Consumer Affairs Division of the Department and to letters sent by the Government Relations and Consumer Affairs Division to Condor, in violation of Section 36a-17(d) of the General Statutes; and, Condor failed to otherwise cooperate with the Commissioner in violation of Section 36a-17(d) of the General Statutes.  Pursuant to the Settlement Agreement, Condor agreed to cease and desist from engaging in acts in violation of Sections 36a-17(d) and 36a-53a of the General Statutes and conduct which constitutes the making of a material misstatement or failure to give a true reply in an application for a license.  In addition, Condor agreed to remit to the Department of Banking ten thousand dollars as a civil penalty.  
       Dated:  Tuesday, July 10, 2007
       Howard F. Pitkin
       Banking Commissioner