Bulletin # 2643 - Week Ending October 17, 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.

Interstate Loan Production Office

On October 17, 2014, Bank of England, an Arkansas banking corporation with its main office in England, Arkansas, filed an application pursuant to Section 36a-412(d) of the Connecticut General Statutes to establish a loan production office at 85 Wall Street, Suite 1A, Madison, Connecticut.

On November 17, 2014, Bank of England plans to close its loan production office at 15 Oakwood Avenue, 1st Floor, Norwalk, Connecticut.

CONSUMER CREDIT DIVISION ACTIVITY

Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, and Notice of Intent to Issue Order to Cease and Desist

On October 6, 2014, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  Legacy Customer Management Group, LLC (“Respondent”), Jacksonville, Florida.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to maintain a surety bond that runs concurrently with the period of its consumer collection agency license for its office located at 7901 Baymeadows Way, Suite 31, Jacksonville, Florida, in violation of Section 36a-802(a) of the 2014 Supplement to the General Statutes.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.

Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Debt Negotiation License, and Notice of Intent to Issue Order to Cease and Desist

On October 6, 2014, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Debt Negotiation License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  Strategic Debt Solutions LLC (“Respondent”), Lake Worth, Florida.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to maintain a surety bond that runs the entire period of its debt negotiation license for its office located at 8461 Lake Worth Road, Suite 450, Lake Worth, Florida, in violation of Section 36a-671d of the Connecticut General Statutes, as amended by Public Acts 14-7 and 14-22.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.

Dated:  Tuesday, October 21, 2014

Howard F. Pitkin
Banking Commissioner