The Department of Banking News Bulletin

Bulletin # 2090
Week Ending March 12, 2004

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

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 Financial Institutions Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

NEW BANK ACTIVITY

On March 12, 2004, pursuant to Section 36a-70 of the Connecticut General Statutes, The Connecticut Bank and Trust Company, Hartford, was authorized to commence and transact the business of a bank and trust company at 58 State House Square, Hartford, Connecticut.

CHECK CASHING SERVICE LICENSE ACTIVITY

On March 5, 2004, pursuant to Section 36a-581 of the Connecticut General Statutes, Check Stop of Connecticut LLC filed an application to operate a check cashing service general facility at 309 Grand Avenue, New Haven, Connecticut.

On March 8, 2004, pursuant to Section 36a-581 of the Connecticut General Statutes, Connecticut State Check Cashing Service, Inc. received approval to operate a check cashing service general facility at 95 Thomaston Avenue, Waterbury, Connecticut.

MONEY TRANSMITTER LICENSE ACTIVITY

On November 26, 2003, pursuant to section 36a-600 of the Connecticut General Statutes, Citicorp Electronic Financial Services, Inc. surrendered its license to engage in the business of money transmission.

CONSUMER CREDIT DIVISION ACTIVITY

On February 24, 2004, the Commissioner issued Findings of Fact, Conclusions of Law and Order revoking the first mortgage broker license of Mathews Mortgage Services, LLC, 65 Connecticut Boulevard, East Hartford, Connecticut. 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.

REORGANIZATION INTO A MUTUAL HOLDING COMPANY

On March 9, 2004, pursuant to Section 36a-192 of the Connecticut General Statutes, Collinsville Savings Society, Collinsville, Connecticut, a mutual savings bank, filed an application to reorganize as a mutual holding company.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Agent Fined $20,000; Agent Registration Denied

On March 10, 2004, the Commissioner entered an Order denying the registration of Frederick Strong Moseley IV as a broker-dealer agent of Landers, Lane & Moseley Capital Partners LLC under the Connecticut Uniform Securities Act. On the same day, the Commissioner entered an order fining respondent Moseley $20,000. The Commissioner’s action had been preceded by a September 5, 2003 Notice of Intent to Deny Registration as Agent and Notice of Intent to Fine. In denying the respondent’s agent registration and fining him $20,000, the Commissioner found that respondent Moseley, a control person of Triumph Capital Group, Inc., failed to disclose in his agent application that Triumph Capital Group, Inc. had been found guilty of racketeering for state-law bribery and obstruction of justice; racketeering conspiracy for state-law bribery and obstruction of justice; bribery concerning programs receiving federal funds; wire fraud/theft of honest services; and obstruction of justice. Respondent Moseley did not contest the denial order or the imposition of the fine.