To protect the health and safety of the public and our employees, the Department of Banking has limited the number of employees at our office at 260 Constitution Plaza in Hartford. When contacting the Department, please use electronic communication whenever possible. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to and it will be routed appropriately. Thank you for your patience during this time.

The Department of Banking News Bulletin 

Bulletin # 2934 - Week Ending May 15, 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.



Interstate Loan Production Office

On May 22, 2020, Evolve Bank & Trust, an Arkansas state-chartered bank, filed an application pursuant to Section 36a-412(d) of the Connecticut General Statutes, seeking approval to establish a loan production office at 222 Old Boston Post Road, Old Saybrook, Connecticut.


Branch Activity
DATE: May 21, 2020
CREDIT UNION: Nutmeg State Financial Credit Union, Rocky Hill
LOCATION: 500 West Avenue, Norwalk, CT 06850
ACTIVITY-BRANCH TYPE: Filed to Open Full Service Branch
Field of Membership Amendment

On May 21, 2020, Nutmeg State Financial Credit Union, Rocky Hill, Connecticut, a Connecticut credit union, filed a request for approval to amend its bylaws pursuant to Section 36a-437a(h)(3) of the Connecticut General Statutes, to expand its field of membership to include the following Connecticut towns and city: Fairfield, Westport, Norwalk and Trumbull.


Temporary Order to Cease and Desist, Notice of Intent to Issue
Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On May 14, 2020, the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing In the Matter of: Professional Bureau of Collections of Maryland, Inc. (NMLS # 1001939) (“Respondent”), Greenwood Village, Colorado. The Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent acted within this state as a consumer collection agency without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes. Respondent was afforded an opportunity to request a hearing on the allegation set forth in the Notice.


ERG Securities (US) LLC (CRD. No. 121057)

On May 21, 2020, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-20-202011-S) with ERG Securities (US) LLC, a Connecticut-registered broker-dealer located at 50 Washington Street, Suite 921, Norwalk, Connecticut 06854. The Stipulation and Agreement alleged that, commencing in 2018, the firm employed an unregistered broker-dealer agent in violation of Section 36b-6(b) of the Connecticut Uniform Securities Act and, in so doing, failed to effectively establish, enforce and maintain an adequate supervisory system in violation of Section 36b-31-6f(b) of the Regulations under the Act. The agent in question has since become registered in Connecticut.

In resolution of the matter, the firm agreed to refrain from regulatory violations and to remit $3,250 to the department. Of that amount $3,000 constituted an administrative fine and $250 represented reimbursement for past due agent registration fees.



      Dated: Wednesday, May 27, 2020

      Jorge L. Perez
      Banking Commissioner