The Department of Banking News Bulletin
Bulletin # 2992 - Week Ending June 25, 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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
FINANCIAL INSTITUTIONS DIVISION ACTIVITY
Annual License Renewals, Effective July 1, 2021 to June 30, 2022
| Company | Type of License |
Licensee Brief Description |
|
Business Lenders, LLC |
License to operate a business and industrial development corporation (a "BIDCO") pursuant to § 36a-633 |
A BIDCO is a participating lender under the federal SBA loan guarantee programs |
| WorldBusiness Capital, Inc. One State Street, Suite 2110 Hartford, CT 06103 |
License as an international |
An ITIC is a participating lender under financing guarantee programs of the Export-Import Bank, OPIC, and/or the USDA |
|
Access Financial Group, Inc. |
License to act as fiduciary pursuant to § 36a-380 and as authorized by § 42-202 |
Access is licensed as a fiduciary to act as an escrow agent to hold money under pre-need funeral service contracts |
|
Forethought Life Insurance Company |
License to act as fiduciary pursuant to § 36a-380 and as authorized by § 42-202 |
Forethought is licensed as a fiduciary |
| Planned Lifetime Assistance Network of Connecticut, Inc. ("PLAN") 912 Silas Deane Highway Wethersfield, CT 06109 |
License to act as fiduciary pursuant to § 36a-380 and as authorized by § 36a-386 |
PLAN manages special needs trusts established by families for the benefit of disabled family members |
CONSUMER CREDIT DIVISION ACTIVITY
Consent Order
On June 18, 2021, the Commissioner entered into a Consent Order with Pedroso Legal Services LLC a/k/a ELAWNJ.COM, Newark, New Jersey, and Filipe Pedroso. The Consent Order resolved allegations made by the Commissioner in an Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing against Respondents issued on November 19, 2020 (“Order and Notice”). The Order and Notice was the result of an investigation by the Consumer Credit Division. The Order and Notice alleged that each Respondent engaged or offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes, in effect prior to October 1, 2017. As part of the Consent Order, Respondents paid $10,000 as a civil penalty, and $8,200 in restitution to an identified Connecticut resident.
Dated: Tuesday, June 29, 2021
Banking Commissioner