Bulletin # 2985 - Week Ending May 7, 2021

STATE BANK ACTIVITY

Amended Notice of Branch Closing

On May 5, 2021, Amelia Family Trust Company, a New Jersey-chartered limited purpose trust company, amended its previously filed notice of the closing of its trust office at 8 Wright Street, Suite 107, in Westport, Connecticut, to reflect that it was filed pursuant to Connecticut General Statutes Sections 3a-412 and 36a-145(f). Any comments received by the Commissioner will be forwarded to their State Regulator.  

CONSUMER CREDIT DIVISION ACTIVITY

Consent Order
 
On April 29, 2021, the Commissioner entered into a Consent Order with Silvermine Ventures, LLC d/b/a Thoroughbred Mortgage d/b/a Thoroughbred Mortgage Mortgage LLC (NMLS # 975428) (“Silvermine”), Rye Brook, New York. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Silvermine failed to timely file its 2017 Mortgage Call Report, in violation of Section 36a-534b(c) of the Connecticut General Statutes and the terms of a Consent Order issued August 17, 2016. As part of the Consent Order, Silvermine paid $2,500 as a civil penalty.

Order Granting Motion to Stay Enforcement of Deadline
For Remitting Civil Penalty Through May 31, 2021

On May 6, 2021, following a post-hearing motion by respondent 1st Alliance Lending, LLC, the Banking Commissioner issued an Order Granting Motion to Stay Enforcement of Deadline For Remitting Civil Penalty Through May 31, 2021. On April 16, 2021, the Commissioner had issued final Findings of Fact, Conclusions of Law and an Order (the "Final Decision") that imposed a $750,000 civil penalty against the firm. The Final Decision required that payment be made no later than May 17, 2021. By extending the payment due date to May 31, 2021, the May 6, 2021 Order made the payment schedule coincide with the 45 day window for filing an administrative appeal under Section 4-183 of the Connecticut General Statutes.