The Department of Banking News Bulletin
Bulletin # 3003 - Week Ending September 10, 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.
CONSUMER CREDIT DIVISION ACTIVITY
Order Dismissing Administrative Proceedings and Order Vacating Civil Penalty
On September 2, 2021, the Commissioner issued an Order Dismissing Administrative Proceedings and Order Vacating Civil Penalty (“2021 Order”) in the Matter of: Great Plains Lending, LLC (“Great Plains”), Red Rock, Oklahoma, John R. Shotton (“Shotton”) and Clear Creek Lending (“Clear Creek”), Stillwater, Oklahoma. The 2021 Order was issued in accordance with the Connecticut Supreme Court decision, Docket No. SC 20340 (May 20, 2021) and Order of the Superior Court for the Judicial District of New Britain dated July 15, 2021. The 2021 Order dismisses the administrative proceedings against Clear Creek and Great Plains. The 2021 Order also vacates the civil penalty imposed upon Shotton by the Order to Cease and Desist and Order Imposing Civil Penalty issued by the Commissioner on January 6, 2015 (“2015 Order”), and restated in the Restated Order and Ruling on Motion to Dismiss issued by the Commissioner on June 14, 2017 (“2017 Order”). The provisions of the 2015 Order and 2017 Order requiring that Shotton cease and desist from participating in the violation of subdivisions (1) and (2) of Section 36a-555 and Section 36a-573(a) of the Connecticut General Statutes remain in effect.
Dated: Tuesday, September 14, 2021
Jorge L. Perez