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Section 36a-145 of the Connecticut General Statutes, as amended by Public Act 07-14, 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.

On February 15, 2008, the Commissioner entered into a Settlement Agreement with Family Choice Mortgage Corporation (“FCMC”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that FCMC employed or retained at least six originators without registering them, in violation of Sections 36a-486(b) and 36a-511(b) of the Connecticut General Statutes.  The agreement acknowledges that on December 18, 2007, FCMC made a contribution to the State Regulatory Registry LLC, a wholly-owned subsidiary of the Conference of State Bank Supervisors (“CSBS”), in the amount of $6,000 to support the Nationwide Mortgage Licensing System, jointly sponsored by CSBS and the American Association of Residential Mortgage Regulators, and required that FCMC cease and desist from engaging in acts in violation of Sections 36a-486(b) and 36a-511(b) of the Connecticut General Statutes. 

On February 19, 2008, the Commissioner entered into a Stipulation and Agreement with Axiom International Investors LLC, an investment adviser registered with the Securities and Exchange Commission and located at 55 Railroad Avenue, Third Floor, Greenwich, Connecticut.  The Stipulation and Agreement alleged that, from approximately January 2003 forward, the firm transacted business as an investment adviser in Connecticut without making the requisite notice filing under Section 36b-6(e) of the Connecticut Uniform Securities Act.  The firm ultimately filed a notice on November 7, 2007.  Pursuant to the Stipulation and Agreement, Axiom International Investors LLC agreed to comply with state filing requirements, including those governing renewals, and to remit $2,100 to the agency.  Of that amount, $1,500 constituted an administrative fine and $600 represented reimbursement for past due investment advisory notice filing fees.