Bulletin # 2609 - Week Ending February 21, 2014

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 Make Restitution, Notice of Intent to Revoke and Refuse to Renew Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On February 11, 2014, the Commissioner issued an Order to Make Restitution, Notice of Intent to Revoke and Refuse to Renew Consumer Collection Agency License, 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:  HOVG, LLC d/b/a Bay Area Credit Service, LLC (“Respondent”), Atlanta, Georgia.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges, among other things, that Respondent engaged in conduct which constitutes violations of Sections 36a-801(c) and 36a-805(a)(9) of the Connecticut General Statutes in effect prior to October 1, 2013, and Sections 36a-809-12(1) and 36a 809-7(b) of the Regulations of Connecticut State Agencies.  As part of the Order to Make Restitution, Respondent was ordered, among other things, to promptly refund all charges and fees paid by Connecticut consumer debtors that could not be legally added to claims charged to such consumer debtors.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.