The Department of Banking News Bulletin 

Bulletin # 2890 - Week Ending July 12, 2019


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 business days from the date of this bulletin.



Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. Plans are submitted when such applications are filed and are available for public inspection and comment at the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.
DATE: July 12, 2019
BANK: Bankwell Bank, New Canaan
LOCATION: 435 Danbury Road, Wilton, CT 06897
ACTIVITY-BRANCH TYPE: Notice of Closing of Special Need Limited Branch



David E. Houge - Consent Order Entered

On July 8, 2019, the Banking Commissioner entered a Consent Order (No. CO-19-8434-S) with respect to David E. Houge, now or formerly of Lexington, Kentucky. The Consent Order alleged that in 2015, David Houge violated Section 36b-16 of the Connecticut Uniform Securities Act by selling unregistered securities issued by Vintage Foods Ltd., a medical/recreational marijuana and hemp manufacturer. In May, 2018, David Houge repaid the affected Connecticut investor $19,000, representing the investor's total investment in Vintage Foods Ltd.

The Consent Order directed David Houge to cease and desist from regulatory violations and barred him for seven years from offering or selling securities in or from Connecticut; transacting business in or from Connecticut as a broker-dealer, agent, investment adviser or investment adviser agent; and acting in any other capacity requiring a license or registration from the Commissioner.


      Dated:  Tuesday, July 16, 2019


      Jorge L. Perez
      Banking Commissioner