The Department of Banking News Bulletin
Bulletin # 2977 - Week Ending March 12, 2021
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.
STATE BANK ACTIVITY
Branch ActivitySection 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: March 8, 2021
BANK: Fieldpoint Private & Trust, Greenwich
LOCATION: 1075 Peachtree Street NE, Suite 3675, Atlanta, GA 30309
ACTIVITY-BRANCH TYPE: Approved to Establish Full Service Branch
Interstate Branch
On March 12, 2021, the Commissioner approved the application of NBT Bank, N.A., a national bank headquartered in Norwich, New York, to establish a de novo branch in Connecticut pursuant to Section 36a-412(a) of the Connecticut General Statutes. The branch will be located at 2670 Main Street in Glastonbury, Connecticut.
CREDIT UNION ACTIVITY
Branch Activity
DATE: March 12, 2021
CREDIT UNION: American Eagle Financial Credit Union, East Hartford
LOCATION: L Mezzanine (Raytheon Technology Company), Main Street,
East Hartford, CT 06118
ACTIVITY-BRANCH TYPE: Filed Notice of Branch Closing as of April 12, 2021
CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking Consumer Collection Agency License
On March 4, 2021, the Commissioner issued an Order Revoking Consumer Collection Agency License (“Order”) in the Matter of: Niagara Credit Solutions, Inc., NMLS # 954581, Lackawanna, New York (“Respondent”). The basis of the Order was that Respondent failed to maintain a surety bond that runs concurrently with the period of its consumer collection agency license, in violation of Section 36a-802(a) of the Connecticut General Statutes. The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 1212 Abbott Road, Suite D, Lackawanna, New York.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order Entered
On March 10, 2021, the Banking Commissioner entered a Consent Order (No. CO-21-11827-S) with respect to Frederic H. Salusbury of Greenwich, Connecticut. The Consent Order alleged that Salusbury violated Section 36b-16 of the Connecticut Uniform Securities Act by selling an unregistered security, evidenced by a $100,000 promissory note, to a Connecticut resident. The note featured a 10% rate of return. The Consent Order acknowledged that Frederic Salusbury had provided the department with evidence that he had repaid the affected investor $122,431.61, representing principal and interest due on the note.
The Consent Order fined Salusbury $5,000 and directed him to cease and desist from regulatory violations.
Jorge L. Perez
Banking Commissioner