Bulletin # 3120 - Week Ending December 8, 2023

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.

DEPOSIT INDEX AND INTEREST RATES

Pursuant to Section 36a-26 of the Connecticut General Statutes, the Commissioner has determined the deposit index for the calendar year 2024 to be 0.55%.

These rates are for the period commencing January 1, 2024 and ending December 31, 2024.

PLEASE NOTE: The interest rates provided herein are done as a convenience to the public; the Commissioner has no authority to establish interest rates beyond what is provided in statute. Accordingly, parties required to pay interest under these sections must ensure compliance with the applicable statute(s). 
  

BANK ACTIVITY

Section 36a-145 of the Connecticut General Statutes requires that 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 may be submitted when such applications are filed and any plans that are filed will be made 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 at (860) 240-8180.

DATE: November 28, 2023
BANK: First County Bank, Stamford
LOCATION: 275 Hope Street, Stamford, CT 06906*
ACTIVITY-BRANCH TYPE: Filed Notice of Branch Closing
PROPOSED CLOSING DATE: March 1, 2024
*correction to the address posted in bulletin #3119

CONSUMER CREDIT DIVISION ACTIVITY

Order to Cease and Desist and Order Imposing Civil Penalty

On November 27, 2023, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of: ROCKY MOUNTAIN CAPITAL MANAGEMENT LLC, NMLS # 1747384 (“Respondent”), North Tonawanda, New York. The basis of the Order was that: (1) Respondent’s acting within this state as a consumer collection agency without a consumer collection agency license constitutes violations of Section 36a-801(a) of the Connecticut General Statutes in effect at such time, which form the basis to issue an order to cease and desist pursuant to Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Sections 36a-804(b) and 36a-50(a) of the Connecticut General Statutes; and (2) Respondent’s engaging in small loan activity constitutes violation of Section 36a-556(a) of the Connecticut General Statutes in effect at such time, which forms the basis to issue an order to cease and desist pursuant to Sections 36a-570(b) and 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Sections 36a-570(b) and 36a-50(a) of the Connecticut General Statutes. The Commissioner ordered Respondent to cease and desist from violating Sections 36a 801(a) and 36a-556(a) of the Connecticut General Statutes and imposed a civil penalty in the amount of $100,000 upon Respondent. In addition, the Order to Make Restitution issued against Respondent on August 15, 2023, remains in effect and became permanent on September 7, 2023. 

Order Revoking Mortgage Lender License and Order to Cease and Desist

On November 27, 2023, the Commissioner issued an Order Revoking Mortgage Lender License and Order to Cease and Desist (“Order”) in the matter of: Animo Mortgage Company LLC d/b/a GloriFi d/b/a GloriFi Mortgage (NMLS # 2267438) (“Respondent”), Dallas, Texas. The basis of the Order was that the Respondent failed to maintain a surety bond that runs concurrently with the period of its mortgage lender license, which constitutes sufficient grounds for the Commissioner to deny an application for such license under Section 36a-489(a) of the Connecticut General Statutes and constitutes sufficient grounds for the Commissioner to revoke Respondent’s license to engage in the business of a mortgage lender in Connecticut from its main office pursuant to Sections 36a-492(c) and 36a-494(a) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, and forms a basis to issue an order to cease and desist pursuant to Sections 36a-494(b) and 36a-52(a) of the Connecticut General Statutes. The Order revokes Animo’s license to engage in the business of a mortgage lender in Connecticut from 10000 N. Central Expy., Suite 1300, Dallas, Texas.

Consent Order

On November 29, 2023, the Commissioner entered into a Consent Order with OLIPHANT FINANCIAL, LLC (NMLS # 953706) (“Oliphant”), Sarasota, Florida. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Oliphant acted as a consumer collection agency in this state without the required license from January 1, 2018 until May 2, 2022, in violation of Section 36a-801(a) of the Connecticut General Statutes. As part of the Consent Order, Oliphant paid $10,000 as a civil penalty and $1,200 as back-licensing fees.