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On July 26, 2017, the Commissioner entered into a Consent Order with James Farrell(“Farrell”). The Consent Order was based on an investigation by the Financial Institutions Division. As a result of such investigation, the Commissioner alleged that Farrell violated Sections 36a-53a, 36a-54 and 36a-454b(f) of the Connecticut General Statutes and engaged in conduct that would form the basis for removing him from office pursuant to Sections 36a-53(b)(1)(C) and 36a-53(b)(1)(E) of the Connecticut General Statutes. As part of the Consent Order, Farrell may not hold any position as a director, officer, employee or independent contractor with any bank, Connecticut credit union or federal credit union or with a holding company that holds a subsidiary that is a bank, or as a licensee or registrant under Title 36a or 36b of the Connecticut General Statutes, without the consent of the Commissioner, and must pay $10,000 as a civil penalty.