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 Financial Institutions Division, (860) 240-8180.

SECURITIES FORUM 2004

The Securities and Business Investments Division is sponsoring its 16th annual Securities Forum conference on Tuesday, October 26, 2004 at the Radisson Hotel and Conference Center in Cromwell, Connecticut.

This year's event is an exceptional opportunity for broker-dealers, investment advisers, banks, financial planners, securities and corporate attorneys, insurance firms, accountants and other financial industry professionals to keep abreast of new and evolving regulatory developments.

Securities Forum 2004 features an outstanding agenda, with a choice of ten different panel presentations on timely topics such as broker-dealer and investment adviser regulation, anatomy of an examination or investigation, corporate finance, regulation of hedge funds, arbitration, business ethics and coordination across industry boundaries by securities and bank regulators.

For program and registration information, please visit the department's web site or call the department at (860) 240-8170.

REORGANIZATION INTO A MUTUAL HOLDING COMPANY AND ACQUISITION

On October 7, 2004, pursuant to Section 36a-192 of the Connecticut General Statutes, as amended by Public Act 04-23, Naugatuck Savings Bank, Naugatuck, Connecticut, a mutual savings bank, filed an application to reorganize as a mutual holding company to be known as Nutmeg Financial MHC, Inc., with Naugatuck Savings Bank, a reorganized capital stock savings bank, as its wholly-owned subsidiary. Also on October 7, 2004, an acquisition statement was filed on behalf Nutmeg Financial, MHC, a federal mutual holding company in organization, pursuant to Section 36a-184 of the Connecticut General Statutes, for the acquisition of all of the voting securities of Naugatuck Savings Bank through the merger of Nutmeg Financial MHC, Inc., with and into Nutmeg Financial, MHC. The filing included a community reinvestment plan, which is available for public inspection and comment at the Department of Banking for a period of 30 days.

CREDIT UNION ACTIVITY 
Field of Membership

On October 4, 2004, pursuant to Section 36a-462b(d) of the Connecticut General Statutes, Corporate America Family Credit Union, Elgin, Illinois, filed a request for approval to expand its field of membership in the State of Connecticut to employees of Eastern Steel Erectors LLC.

MONEY TRANSMITTER LICENSE ACTIVITY

On September 23, 2004, pursuant to Section 36a-598 of the Connecticut General Statutes, Global Money Remittance Inc. filed an application to engage in the business of money transmission.

CONSUMER CREDIT DIVISION 
Settlement Agreement

On October 6, 2004, the Commissioner entered into a Settlement Agreement with Muhelkumar R. Patel D/B/A Quick Stop Mini Mart ("Patel"). The Settlement Agreement was based on an investigation by the Consumer Credit Division. As a result of the investigation, pursuant to Sections 36a-52(a), 36a-52(b) and 36a-50(a) of the Connecticut General Statutes, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing and Temporary Order to Cease and Desist against Patel. The Notice alleged that Patel engaged in the business of issuing Connecticut payment instruments without obtaining the required license. Pursuant to the Settlement Agreement, Patel agreed to obtain the necessary license prior to engaging in any further business of issuing Connecticut payment instruments. In addition, Patel agreed to remit to the Department of Banking $2,500 as a civil penalty.