Bulletin # 2673 - Week Ending May 15, 2015

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE BANK ACTIVITY

Interstate Loan Production Office

On May 8, 2014, East West Bank, a California-chartered commercial bank, opened a loan production office at 1224 Mill Street, Building B, Suite 224, East Berlin, 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 May 1, 2015, 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:  Apex Financial Management, LLC d/b/a Apex Collections, LLC (“Respondent”), Hazelwood, Missouri.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 5757 Phantom Drive, Suite 300, Hazelwood, Missouri, in violation of Section 36a 802(a) of the Connecticut 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.

On May 1, 2015, 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:  Bureau of Accounts Control, Inc. (“Respondent”), Howell, New Jersey.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 3601 Route 9 North, Howell, New Jersey, in violation of Section 36a-802(a) of the Connecticut 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.

On May 1, 2015, 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:  Cherry Creek Strategic Advisors, LLC (“Respondent”), Denver, Colorado.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 4380 S. Syracuse Street, Suite 200, Denver, Colorado, in violation of Section 36a 802(a) of the Connecticut 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.

On May 1, 2015, 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:  Leading Edge Recovery Solutions, L.L.C. (“Respondent”), Chicago, Illinois.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 5440 N. Cumberland Avenue, Suite 300, Chicago, Illinois, in violation of Section 36a 802(a) of the Connecticut 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.

On May 1, 2015, 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:  Leading Edge Recovery Solutions, L.L.C. (“Respondent”), Getzville, New York.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 33 Dodge Road, Suite 100, Getzville, New York, in violation of Section 36a-802(a) of the Connecticut 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.

On May 1, 2015, 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:  Windsor Law, P.C. (“Respondent”), Lake Mary, Florida.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner 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 701 International Parkway, Suite 400, Lake Mary, Florida, in violation of Section 36a-802(a) of the Connecticut 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.

Consent Order

On May 1, 2015, the Commissioner entered into a Consent Order with Guidance Residential, LLC (“Guidance Residential”) (NMLS # 2908), Reston, Virginia.  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Guidance Residential changed the address of its branch office specified on its most recent filing with the Nationwide Mortgage Licensing System and Registry (“NMLS”) and failed to file such change with NMLS at least 30 calendar days prior to such change and, in connection with such address change, failed to provide, directly to the Commissioner, a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects the address of the branch office, in violation of Section 36a-490(b) of the Connecticut General Statutes.  As part of the Consent Order, Guidance Residential paid $500 as a civil penalty.