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 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 # 2994 - Week Ending July 9, 2021

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 directed to Jorge L. Perez, Banking Commissioner.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

STATE BANK ACTIVITY

Branch 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:  July 7, 2021
BANK:  Savings Bank of Danbury, Danbury
LOCATION:  295 Westport Avenue, Norwalk, CT 06851
ACTIVITY-BRANCH TYPE:  Filed to Establish – Full Service Branch

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Order Imposing Fine

On July 6, 2021, the Banking Commissioner entered an Order Imposing Fine (Docket No. CF-21-8397-S) against Jax Acquisitions II LLC of 2101 Vista Parkway, Suite 125, West Palm Beach, Florida. The company's main business was to raise money to acquire and renovate a multi-family property in Jacksonville, Florida. Jax Acquisitions II LLC did not appear or contest the Commissioner's imposition of the fine, and the order was entered by default.

Jax Acquisitions II LLC had been the subject of an April 9, 2021 Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing alleging that, beginning in 2010, the company violated Section 36b-16 of the Connecticut Uniform Securities Act by selling unregistered limited liability company units to three Connecticut investors. The Order to Cease and Desist, being uncontested, had become permanent on June 7, 2021.

The July 6, 2021 Order Imposing Fine adopted the allegations in the April 9, 2021 action as findings, and imposed a $100,000 fine against Jax Acquisitions II LLC.

Dated: Tuesday, July 13 , 2021


Jorge L. Perez
Banking Commissioner