The Department of Banking News Bulletin

Bulletin # 1945
Week Ending June 1, 2001

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, Commissioner of Banking, 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.

RECEIVE THE NEWS BULLETIN BY E-MAIL

The Department of Banking now offers a free service to deliver the News Bulletin directly to you by E-mail on the day that it is issued. To subscribe to this new service, please visit the Department's Web site. If you no longer wish to receive a printed copy of the News Bulletin by postal mail, please contact jeanne.charbonneau@ct.gov.

STATE BANK ACTIVITY
Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

CHECK CASHING SERVICE LICENSE ACTIVITY

On May 31, 2001, New York Cash Express, Inc. surrendered its licenses to operate check cashing service general facilities at the following locations: 2165 Boston Avenue, Bridgeport; and 161 Boston Avenue, Bridgeport, both in Connecticut.

ACQUISITION

On May 31, 2001, pursuant to Section 36a-185 of the Connecticut General Statutes, the Commissioner issued a notice of intent not to disapprove the acquisition by United Parcel Service, Inc. of 100 percent of the voting securities of First International Bancorp, Inc. and, indirectly, of First International Bank.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Agent Sanctioned for Unregistered Agent Activity

On May 31, 2001, the Commissioner executed a Stipulation and Agreement with respect to Andre Vincent Russo, currently a registered broker-dealer agent of Broadmark Capital Corp. The Stipulation and Agreement alleged that between November 1998 and March 2001, respondent Russo transacted business as an agent of Southport Securities, LLC absent registration under Section 36b-6 of the Connecticut Uniform Securities Act.

Pursuant to the Stipulation and Agreement, respondent Russo agreed to pay a $500 fine and to complete the Regulatory Element of the Securities Industry Continuing Education Program within ninety days.

CONSUMER CREDIT DIVISION ACTIVITY
Findings of Fact, Conclusions of Law and Order Revoking License Issued

On May 29, 2001, the Commissioner issued Findings of Fact, Conclusions of Law and an Order revoking the first mortgage lender/broker license of Bankers First Mortgage Co., Inc. The entity is located at 9505 Reisterstown Road, Owing Mills, Maryland. The agency's action was based on findings that the entity failed to file a new bond or a replacement bond with the Commissioner as required by Section 36a-492 of the Connecticut General Statutes.