The Department of Banking News Bulletin
Bulletin # 2924 - Week Ending March 6, 2020
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 business days from the date of this bulletin.
COMMISSIONER ISSUES NO ACTION POSITION
In response to the outbreak of the coronavirus, Banking Commissioner Jorge Perez, issued a memo on March 10, 2020 advising the mortgage industry, and other financial services sectors licensed by the Department, that it would take a no action position with regard to employees working from home who otherwise would be required to work from a licensed branch location. This allows employees to work from home if they meet certain requirements:
- The employee works for a licensee of the Department
- Working from home is related to COVID-19
- Individuals must maintain their license
- No activity should be conducted with the public at the home location
- The licensee must continue to reasonably supervise the employee
This is part of a comprehensive effort to help stop the spread of Covid19 and minimize the impact on Connecticut businesses. Licensees are encouraged to read the full no action memo at ct.gov/dob.
STATE BANK ACTIVITY
Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or 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 the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.
DATE: March 3, 2020
BANK: Ion Bank, Naugatuck
LOCATION: 79 Main Street, Unionville, CT 06085
ACTIVITY-BRANCH TYPE: Aproved to Establish Full Service Branch