State of Connecticut Department of Banking

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The Department of Banking News Bulletin 

Bulletin # 2927 - Week Ending March 27, 2020

 

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.

 

CONSUMER CREDIT DIVISION ACTIVITY


Consent Order

On March 19, 2020, the Commissioner entered into a Consent Order with Paycor, Inc. (“Paycor”), Cincinnati, Ohio. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that from at least July 16, 2015 to the present, Paycor engaged in the business of money transmission in this state without a license, in violation of Section 36a-597(a) of the Connecticut General Statutes. As part of the Consent Order, Paycor paid $60,000 as a civil penalty.

 

      Dated: Tuesday, March 31, 2020

 

      Jorge L. Perez
      Banking Commissioner