Bulletin # 2635 - Week Ending August 22, 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 above address.  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

Modification to Order to Cease and Desist and Order Imposing Civil Penalty

On August 11, 2014, the Commissioner issued a Modification to Order to Cease and Desist and Order Imposing Civil Penalty (“Modification”) in the Mater of:  P & C Capital Group LLC (“Respondent”), El Monte, California.  The Modification modifies the civil penalty imposed on Respondent in an Order to Cease and Desist and Order Imposing Civil Penalty issued on June 27, 2014, in connection with Respondent acting as a consumer collection agency in this state without a consumer collection agency license, in violation of Section 36a-801(a) of the 2014 Supplement to the General Statutes.  The Modification reduces the civil penalty from $100,000 to $10,000; but if the reduced civil penalty is not paid by August 26, 2014, the original civil penalty will remain in effect.

Order to Cease and Desist and Order Imposing Civil Penalty

On August 12, 2014, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Real Estate Solutions a/k/a Doc Prep 101, Corona, California, and MukLuk, LLC, Riverside, California (collectively, “Respondents”).  The basis of the Order was that Respondents engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes.  Each Respondent was ordered to cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes and to pay a civil penalty in the amount of $100,000.  In addition, an Order to Make Restitution previously issued against the Respondents on March 5, 2014, remains in effect and became permanent on March 28, 2014.

Consent Order

On August 14, 2014, the Commissioner entered into a Consent Order with Benjamin Williams Debt Collectors Inc. a/k/a Benjamin & Williams Credit Investigators, Inc. (“Benjamin Williams”), Holtsville, New York.  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Benjamin Williams acted as a consumer collection agency in Connecticut without the required license, in violation of Section 36a-801(a) of the 2014 Supplement to the General Statutes.  As part of the Consent Order, Benjamin Williams paid $5,000 as a civil penalty.

Order Revoking Consumer Collection Agency License and Order to Cease and Desist

On August 14, 2014, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Emory Enterprises, LLC d/b/a National Action Financial Services (“Respondent”), Williamsville, New York.  The Order was based on Respondent’s failure to maintain a surety bond that runs concurrently with the period of its consumer collection agency license, in violation of Section 36a-802(a) of the 2014 Supplement to the General Statutes.  The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 125 Lawrence Bell Drive, Williamsville, New York, and orders Respondent to cease and desist from violating Section 36a-802(a) of the 2014 Supplement to the General Statutes.

Dated:  Tuesday, August 26, 2014

Howard F. Pitkin
Banking Commissioner