The Department of Banking News Bulletin

 Bulletin # 1980
Week Ending February 1, 2002

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.

BRANCH ACTIVITY
State Bank

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 January 28, 2002, pursuant to Section 36a-581(d) of the Connecticut General Statutes, Connecticut State Check Cashing Services, Inc. applied to relocate its licensed check cashing service general facility from 1665 Main Street, Hartford, Connecticut, to 161 Albany Avenue, Hartford, Connecticut.

On February 1, 2002, pursuant to Section 36a-581(d) of the Connecticut General Statutes, approval was granted to Check Stop of Connecticut LLC to relocate its licensed check cashing service general facility from 85 State Street, Meriden, Connecticut, to 77 State Street, Meriden, Connecticut.

MONEY ORDER AND TRAVELERS CHECK LICENSE ACTIVITY

On January 28, 2002, pursuant to Section 36a-600 of the Connecticut General Statutes, Girosol Corporation received approval to engage in the business of money transmission.

On January 28, 2002, pursuant to Section 36a-600 of the Connecticut General Statutes, Sigue Corporation received approval to engage in the business of money transmission.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Fined $7,500 for Unregistered Activity

On February 1, 2002, the Commissioner entered a Consent Order with respect to Cybertrader, Inc., a Connecticut-registered broker-dealer having its principal office at 115 Wild Basin Road, Suite 100, Austin, Texas. The Consent Order alleged that, during the three-month period immediately preceding its November 11, 1999 registration as a broker-dealer under the Connecticut Uniform Securities Act, the firm effected securities transactions for the accounts of individuals having a Connecticut address in violation of Section 36b-6(a) of the Act.

The Consent Order fined the firm $7,500 and directed it to cease and desist from regulatory violations. In addition, the Consent Order required that the firm implement revised supervisory and compliance procedures designed to improve regulatory compliance. The Consent Order also mandated that, for two years, the firm file quarterly reports with the agency concerning any securities-related complaints, actions or proceedings involving Connecticut residents.