The Department of Banking News Bulletin
Bulletin # 2228
Week Ending November 3, 2006
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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. 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.
| 11/03/06 |
Fairfield County Bank Corp
Ridgefield |
114 Federal Road
Danbury, CT 06810 |
filed |
| 11/03/06 |
Fairfield County Bank Corp
Ridefield |
457 Main Street, Suite 3A
Danbury, CT 06811 |
filed |
FOREIGN BANK ACTIVITY
On November 1, 2006, pursuant to Section 36a-428a of the Connecticut General Statutes, The Royal Bank of Scotland plc, a foreign bank with its principal place of business in Edinburgh, Scotland, United Kingdom, filed an application to establish and maintain a state branch at 600 Steamboat Road, Greenwich, Connecticut.
MAIN OFFICE RELOCATION
On October 30, 2006, pursuant to Section 36a-81 of the Connecticut General Statutes, approval was granted to Bankers’ Bank Northeast to relocate its main office from 655 Winding Brook Drive, Glastonbury, to 300 Winding Brook Drive, Glastonbury.
CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking First Mortgage Correspondent Lender/Broker and
Secondary Mortgage Correspondent Lender/Broker License Issued
On September 5, 2006, the Commissioner issued an Order Revoking First Mortgage Correspondent Lender/Broker and Secondary Mortgage Correspondent Lender/Broker Licenses (“Order”), In the Matter of:
American Fidelity, Inc. (“Respondent”), of 10200 Daradale Avenue, Baton Rouge, Louisiana. The action was based on Respondent’s failure to maintain a surety bond that runs concurrently with the period of its first mortgage correspondent lender/broker license, in violation of Section 36a-492(a) of the Connecticut General Statutes. A copy of the Order can be obtained from the department’s website,
www.ct.gov/dob or by contacting the department’s Legal Division.
Order Revoking First Mortgage Broker License Issued
On October 25, 2006, the Commissioner issued an Order Revoking First Mortgage Broker License (“Order”), In the Matter of:
1st Continental Mortgage, Inc. (“Respondent”) of 1040 Bayview Drive, Suite 610, Ft. Lauderdale, Florida. The action was based on Respondent’s failure to maintain a surety bond that runs concurrently with the period of its first mortgage broker license, in violation of Section 36a-492(a) of the Connecticut General Statutes. A copy of the Order can be obtained from the department's website,
www.ct.gov/dob or by contacting the department's Legal Division.
Settlement Agreement
On November 1, 2006, the Commissioner entered into a Settlement Agreement with Elsayed Hassan d/b/a Hot Dog Plus (“Hassan”) who is located in Norwalk, Connecticut. The Settlement Agreement was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Hassan engaged in the business of cashing checks, drafts or money orders for consideration without a license in violation of Section 36a-581(a) of the 2006 Supplement to the General Statutes, and that Hassan charged a sum in excess of that which is allowed under Section 36a-585-1(a) of the Regulations of Connecticut State Agencies. Pursuant to the Settlement Agreement, Hassan agreed not to engage in the business of cashing checks, drafts or money orders for consideration, except as an incident to the conduct of any other lawful business where not more than fifty cents is charged for the cashing of checks, drafts or money orders, without obtaining a license to operate a check cashing general facility or limited facility for each location where such business is to be conducted. In addition, if Hassan obtains a license to engage in the business of cashing checks, drafts or money orders for consideration from the Commissioner, Hassan agreed not to charge fees for cashing checks, drafts or money orders in excess of the fee established by Section 36a-585-1(a) of the Regulations of Connecticut State Agencies or one dollar, whichever is greater. Hassan also agreed to remit to the Department of Banking $500 as a civil penalty.
