The Department of Banking News Bulletin
Bulletin # 3016 - Week Ending December 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 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.
STATE BANK ACTIVITY
Section 36a-145 of the Connecticut General Statutes requires that 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 may be submitted when such applications are filed and any plans that are filed will be made 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 at (860) 240-8180.
DATE: December 10, 2021
BANK: Ion Bank, Naugatuck
LOCATION: 727 Rubber Ave, Naugatuck, CT 06770
ACTIVITY-BRANCH TYPE: Filed Notice of Branch Closing
TARGETED CLOSE DATE: March 31, 2022
Interstate Loan Production Office
On December 10, 2021, Evolve Bank, 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 320 Boston Post Road in Darien, Connecticut.
CONSUMER CREDIT DIVISION ACTIVITY
Order of Summary Suspension, Temporary Order to Cease and Desist,
Notice of Intent to Revoke Consumer Collection Agency License,
Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to
Impose Civil Penalty and Notice of Right to Hearing
On December 7, 2021, the Commissioner issued an Order of Summary Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Order and Notice”) in the Matter of: Yes Online Inc d/b/a Dynamic Legal Recovery d/b/a YES ONLINE INC, NMLS # 1431632 (“Respondent”). The Order and Notice was a result of an investigation and examination by the Consumer Credit Division. The Commissioner alleges that: (1) Respondent failed to provide records requested during the Examination or to otherwise cooperate with the Commissioner, in violation of Section 36a-17(e) of the Connecticut General Statutes; and (2) Respondent’s conduct renders the Commissioner unable to determine that the financial responsibility, character, reputation, integrity and general fitness of Respondent are such to warrant belief that the business will be operated soundly and efficiently, in the public interest and consistent with the purposes of Sections 36a‑800 to 36a‑814, inclusive, as required pursuant to Section 36a-801(c)(2) of the Connecticut General Statutes, as amended by Public Act 21-138. The Commissioner found that the public safety and welfare imperatively required emergency action to summarily suspend Respondent’s license to act as a consumer collection agency in Connecticut and issue a Temporary Order to Cease and Desist against Respondent. Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order and Notice.
Jorge L. Perez