The Department of Banking News Bulletin
Bulletin # 3061 - Week Ending October 21, 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.
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: October 18, 2022
BANK: Savings Bank of Danbury, Danbury
LOCATION: 289 Main Street, Danbury, CT 06810
ACTIVITY-BRANCH TYPE: Filed to Establish Limited Branch
PROPOSED OPENING DATE: 4th quarter 2023
CONSUMER CREDIT ACTIVITY
On October 12, 2022, the Commissioner entered into a Consent Order with PFN Lending Group, Inc. d/b/a Fidelity Residential d/b/a Flynn Mortgage Group d/b/a Priority Financial Network d/b/a Solve Mortgage (NMLS # 103098) (“PFN”), Calabasas, California. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that PFN failed to file with the Nationwide Multistate Licensing System and Registry a change of its legal name at least thirty (30) calendar days prior to such change, and failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a-490(b)(2) of the Connecticut General Statutes. As part of the Consent Order, PFN paid $500 as a civil penalty.
On October 13, 2022, the Commissioner entered into a Consent Order with Universal Account Servicing, LLC (NMLS # 1060516) (“UAS”), Parkville, Missouri. The Consent Order was based on an examination by the Consumer Credit Division. As a result of such examination, the Commissioner alleged that UAS engaged in the business of receiving payments of principal and interest on small loans in Connecticut while not licensed as a small loan company, in violation of Section 36a-556(a)(4) of the Connecticut General Statutes. As part of the Consent Order, a $10,000 civil penalty and $400 back licensing fees were imposed on UAS.
On October 14, 2022, the Commissioner entered into a Consent Order with Blockchain.com, Inc. d/b/a Blockchain d/b/a Blockchain.com (NMLS # 2024031) (“Blockchain”), Miami, Florida. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Blockchain engaged in the business of money transmission in this state without the required license since at least 2020, in violation of Section 36a-597(a) of the Connecticut General Statutes. As part of the Consent Order, Blockchain paid a $10,000 civil penalty and $3,375 back licensing fees.
Jorge L. Perez