The Department of Banking News Bulletin

Bulletin # 1988
Week Ending March 29, 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 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 March 25, 2002, pursuant to Section 36a-581 of the Connecticut General Statutes, I C Video & Music, LLC filed an application to operate a check cashing service general facility at 32 White Street, Danbury, Connecticut.

APPLICATION FOR NAME CHANGE/ORDER FOR HEARING WITHDRAWN

On March 28, 2002, pursuant to Section 36a-82 of the Connecticut General Statutes, Southington Savings Bank, Southington, withdrew its application to change its name to SSB. On April 1, 2002, the Commissioner withdrew the order for hearing on the application, which hearing was scheduled for April 9, 2002.

CONSUMER CREDIT DIVISION ACTIVITY
Findings of Fact, Conclusions of Law and Order
Refusing to Renew License Issued

On March 18, 2002, the Commissioner issued Findings of Fact, Conclusions of Law and an Order refusing to renew the first mortgage lender/broker license of Foundation Funding Group, Inc. d/b/a Greatstone Mortgage. The entity is located at 3627 W. Waters Avenue, Suite 800, Tampa, Florida. 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.

Administrative Orders

On March 26, 2002, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing against EAB Mortgage Company, Inc., located at 400 Oak Street, Garden City, New York. The agency's action was based on the fact that the entity has engaged in the business of making mortgage loans in this state without the licenses required by Part I(A) and Part I(B) of Chapter 668 of the Connecticut General Statutes.

On March 26, 2002, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing against CitiMortgage, Inc., 12855 North Outer Forty Drive, St. Louis, Missouri. The agency's action was based on the fact that the entity has engaged in the business of making mortgage loans in this state without the licenses required by Part I(A) and Part I(B) of Chapter 668 of the Connecticut General Statutes.