The Department of Banking News Bulletin
Bulletin # 3025 - Week Ending February 11, 2022
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.
CONSUMER CREDIT DIVISION ACTIVITY
On February 1, 2022, the Commissioner entered into a Consent Order with Stockpile Gifts, Inc. (“Stockpile”), Palo Alto, California. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Stockpile engaged in certain transactions constituting the business of money transmission in this state without the required license since at least November 1, 2016, in violation of Section 36a-597(a) of the Connecticut General Statutes, in effect at such time. As part of the Consent Order, Stockpile paid $10,000 as a civil penalty.
Jorge L. Perez