The Department of Banking News Bulletin 

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.

STATE BANK ACTIVITY

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications 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.

CONSUMER CREDIT DIVISION ACTIVITY

Order to Cease and Desist and Order Imposing Civil Penalty

On May 2, 2013, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Montgomery & Meyers PA Corporation (“Respondent”), Los Angeles, California.  The basis of the Order was that Respondent acted within this state as a consumer collection agency without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes.  Respondent was ordered to cease and desist from violating Section 36a 801(a) of the Connecticut General Statutes and to pay a civil penalty in the amount of $100,000.

On May 2, 2013, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Sameer Qadri d/b/a Accredited Law Group (“Respondent”), Irvine, Newport Beach, Santa Ana and Costa Mesa, California, and Las Vegas, Nevada.  The basis of the Order was that the Respondent engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2012 Supplement to the General Statutes.  Respondent was ordered to cease and desist from violating Section 36a 671(b) of the 2012 Supplement to the General Statutes and to pay a civil penalty in the amount of $100,000.  In addition, an Order of Restitution previously issued against Respondent on February 1, 2013, remains in effect and became permanent on February 23, 2013.

Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On May 2, 2013, the Commissioner issued a Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  Universal Debt Services Inc. (“Respondent”), Massapequa and Rosedale, New York.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes in effect prior to October 1, 2011, and offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes.  As part of the Order to Make Restitution, Respondent was ordered to provide repayment of fees to identified Connecticut residents plus interest, and repay to any other Connecticut residents who entered into an agreement for debt negotiation services with Respondent on and after October 1, 2009, any fees paid by such Connecticut residents to Respondent plus interest.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist against Respondent.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.

Dated:  Wednesday, May 29, 2013