The Department of Banking News Bulletin
Bulletin # 3002 - Week Ending September 3, 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
On September 2, 2021, Great-West Life and Annuity Insurance Company, a Colorado domestic insurance company headquartered in Greenwood Village, Colorado, filed an application and acquisition statement pursuant to Sections 36a-411 and 36a-184 of the Connecticut General Statutes to acquire Prudential Bank & Trust, FSB, a federal savings bank headquartered in Hartford, Connecticut.
CONSUMER CREDIT DIVISION ACTIVITY
Order to Cease and Desist and Order Imposing Civil Penalty
On August 24, 2021, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of: Infocom Entertainment Ltd, Inc. d/b/a Atlantic Pacific Service, Los Angeles, California (“Infocom”), and Roger Dyer (“Dyer”) (collectively, “Respondents”). The basis of the Order was that: (1) Infocom’s engaging or offering to engage in debt negotiation in this state without obtaining the required license constitutes at least one violation of Section 36a-671(b) of the Connecticut General Statutes, in effect at such time; and (2) Dyer’s engaging or offering to engage in debt negotiation in this state without obtaining the required license constitutes at least one violation of Section 36a‑671(b) of the Connecticut General Statutes, in effect at such time. The Order requires Respondents to cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes, and imposes a civil penalty in the amount of $100,000 upon each Respondent. In addition, the Order to Make Restitution issued against Respondents on May 25, 2021, remains in effect and became permanent against Respondents on June 20, 2021.
On August 26, 2021, the Commissioner entered into a Consent Order with Resurgent Capital Services L.P. (NMLS # 2301) (“Resurgent”), Greenville, South Carolina. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Resurgent collected interest on certain Connecticut consumer debtor accounts, in violation of Section 36a-809-12 of the Regulations of Connecticut State Agencies and Section 36a-808 of the Connecticut General Statutes. As part of the Consent Order, Resurgent paid $2,500 as a civil penalty.
Dated: Wednesday, September 8, 2021
Jorge L. Perez