Bulletin # 3134 - Week Ending March 15, 2024

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.

UNINSURED BANK NAME CHANGE

On March 18, 2024, Currency Reserve Bank, which has received a temporary certificate of authority to organize as a Connecticut uninsured bank, filed an application pursuant to Section 36a-70(k) of the Connecticut General Statutes to change its name to Numisma Bank. Written objections to such application may be made, for a period of thirty days from the date of publication of the bulletin, on the grounds that the name selected will tend to confuse the public.

CONSUMER CREDIT DIVISION ACTIVITY 

Consent Order

On March 18, 2024, the Commissioner entered into a Consent Order with New Hampshire/Northeast Credit Services, Inc. (NMLS # 933108) (“NH Northeast”), Nashua, New Hampshire. The Consent Order was based on an examination by the Consumer Credit Division (“Division”). As a result of such examination, the Commissioner alleged that: 1) NH Northeast failed to reconcile its trust account, finding the majority of the outstanding checks from a prior examination remained outstanding and NH Northeast failed to escheat the monies to the appropriate state agencies in a timely manner; and 2) NH Northeast conducted its business in a way which renders the Commissioner unable to determine that the financial responsibility, character and integrity of NH Northeast are such as to warrant belief that the business will be operated soundly and efficiently, in the public interest and consistent with the purposes of Sections 36a-800 to 36a 814, inclusive, of the Connecticut General Statutes, as required pursuant to Section 36a 801(c)(2) of the Connecticut General Statutes. As part of the Consent Order, NH Northeast provided the Commissioner with satisfactory evidence that NH Northeast has reported and remitted all outstanding checks to the appropriate state agencies in accordance with state escheatment laws. In addition, NH Northeast shall report any and all outstanding checks to the Division on a quarterly basis for a period of two (2) years, timely remit any unclaimed property to the appropriate state agencies, demonstrate compliance with state escheatment laws, and demonstrate financial responsibility as required pursuant to Section 36a-801(c)(2) of the Connecticut General Statutes.

      Dated:  Tuesday, March 19, 2024

      Jorge L. Perez
      Banking Commissioner