Bulletin # 2987 - Week Ending May 21, 2021

STATE BANK ACTIVITY

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: May 18, 2021
BANK: Guilford Savings Bank, Guilford
LOCATION: 1409 Middletown Avenue, Northford, CT 06472
ACTIVITY-BRANCH TYPE: Filed to Establish Full Service Branch

DATE: May 19, 2021
BANK: Ion Bank, Naugatuck
LOCATION: 1751 Ellington Road, South Windsor, CT 06074
ACTIVITY-BRANCH TYPE: Approved to Establish Full Service Branch

Acquisition

On May 21, 2021, the D’Angelo Family Trust filed an acquisition statement pursuant to Section 36a-184 of the Connecticut General Statutes for the acquisition of more than 25% of the outstanding voting securities of The First Bank of Greenwich, a Connecticut bank.

CONSUMER CREDIT DIVISION ACTIVITY

Order Revoking Consumer Collection Agency License, Order to Cease and Desist and Order Imposing Civil Penalty

On May 11, 2021, the Commissioner issued an Order Revoking Consumer Collection Agency License, Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of: Diversified Consultants, Inc. (NMLS # 938331), Jacksonville, Florida (“Respondent”). The basis of the Order was that: (1) Respondent failed to file on the Nationwide Multistate Licensing System and Registry or otherwise notify the Commissioner that it had filed for bankruptcy and that its tangible net worth decreased below the minimum amount required pursuant to subsection (b) of Section 36a-801 of the Connecticut General Statutes, in violation of Section 36a-801(f)(3) of the Connecticut General Statutes, in effect at such time; (2) Respondent utilized an out-of-state bank without a branch in Connecticut for its Connecticut debtor monies, in violation of Section 36a-811(b) of the Connecticut General Statutes, in effect at such time; (3) Respondent charged at least one Connecticut debtor a collection fee in excess of 15% of the amount collected, in violation of Section 36a-805(a)(12) of the Connecticut General Statutes, in effect at such time; (4) Respondent failed to provide information requested during the examination, in violation of Section 36a-17 of the Connecticut General Statutes, in effect at such time; (5) Respondent failed to pay the costs of examination, in violation of Section 36a-65(c)(6) of the Connecticut General Statutes, in effect at such time; (6) Respondent’s conduct renders the Commissioner unable to determine that the financial responsibility, character, reputation, integrity and general fitness of Respondent are such to warrant belief that the business will be operated soundly and efficiently, in the public interest and consistent with the purposes of Section 36a-800 to 36a-814, inclusive, as required pursuant to Section 36a-801(c)(2) of the Connecticut General Statutes; and (7) Respondent failed to maintain a surety bond that runs concurrently with the period of its consumer collection agency license, as required by 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 10550 Deerwood Park Blvd, Suite 309, Jacksonville, Florida, orders Respondent to cease and desist from violating Sections 36a-17, 36a-65(c)(6), 36a-801(f), 36a-805(a)(12) and 36a-811(b) of the Connecticut General Statutes, and imposes a civil penalty in the amount of $500,000 upon Respondent. 

      Dated:  Wednesday, May 26, 2021