The Department of Banking News Bulletin 

Bulletin # 1864
Week Ending November 12, 1999

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 John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.

CHECK CASHING SERVICE LICENSE ACTIVITY

Pursuant to Section 36a-581 of the Connecticut General Statutes, on November 12, 1999, X-Bankers Money & Mortgages, Inc. applied to operate check cashing service general facilities at 135 Connecticut Avenue, Norwalk, Connecticut and 15 West Street, Danbury, Connecticut.

CREDIT UNION ACTIVITY
Merger

Pursuant to the provisions of Section 36a-470 of the Connecticut General Statutes, on October 22, 1999, approval was granted to Dairy Industry Credit Union, Inc., North Haven, to merge with and into Connecticut Federal Credit Union, North Haven.

CONVERSION

On November 12, 1999, Connecticut Bankshares, M.H.C., Manchester, Connecticut, filed applications pursuant to Sections 36a-197 and 36a-181 of the Connecticut General Statutes, to convert from a mutual holding company into a capital stock holding company of The Savings Bank of Manchester.

NOTICE OF INTENT TO AMEND REGULATIONS

The Banking Commissioner is issuing a Notice of Intent to Amend Regulations concerning dishonored check charges imposed on borrowers by affiliated entities of small loan licensees. Interested persons who wish to receive copies of the proposed regulations may contact the Legal Division of the Department at 860-240-8140.

SECTION 36a-425 APPROVAL

On November 8, 1999, approval was granted to Arab Banking Corporation, a Bahraini corporation, to establish an office of its subsidiary, ABC Capital, Inc., a Delaware corporation, at 2 Greenwich Plaza, Suite 100, Greenwich, Connecticut.

SECTION 36a-425 APPLICATION

On November 12, 1999, an application was filed by Irwin Financial Corporation, an Indiana corporation, to establish an office of its subsidiary, Irwin Mortgage Corporation, an Indiana corporation, at 2080 Silas Deane Highway, Suite 203, Rocky Hill, Connecticut.