In accordance with Governor Lamont's emergency declaration, employees and the public are asked to observe social distancing measures to ensure communal safety and to slow the spread of the novel coronavirus (COVID-19). People are asked to work from home and telecommute wherever possible. Adhering to these instructions, the Department of Banking has closed its offices to the public. However, agency staff will continue to provide services to consumers and industry through telework. When contacting the Department, please use electronic communication whenever possible. Agency staff will continue to check voicemails during this time. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to Department.Banking@ct.gov and it will be routed appropriately. Thank you for your patience during this time.

The Department of Banking News Bulletin 

Bulletin # 2798
Week Ending October 6, 2017

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten days from the date of this bulletin.


STATE BANK ACTIVITY
Branch Activity
Section 361-145 of the Connecticut General Statutes requires certain applications for a branch, of for a limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage.  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:  October 5, 2017
BANK:  The Milford Bank, Milford
LOCATION:  96B Broad Street, Guilford, CT  06437
ACTIVITY-BRANCH TYPE:  Application for Limited Branch Withdrawn
CONSUMER CREDIT DIVISION ACTIVITY
Consent Orders
On September 27, 2017, the Commissioner entered into a Consent Order with Central Portfolio Control Inc (NMLS # 929038) (“Central Portfolio”), Minnetonka, Minnesota. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Central Portfolio acted as a consumer collection agency in Connecticut without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes. As part of the Consent Order, Central Portfolio paid $5,000 as a civil penalty.
On September 29, 2017, the Commissioner entered into a Consent Order with Franklin American Mortgage Company (NMLS # 1599) (“Franklin American”), Franklin, Tennessee. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Franklin American failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its branch office at least 30 calendar days prior to such change and, in connection with such address change, failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a 490(b) of the Connecticut General Statutes. As part of the Consent Order, Franklin American paid $500 as a civil penalty.
Dated: Wednesday, October 11, 2017


Jorge L. Perez
Banking Commissioner