Bulletin # 3138 - Week Ending April 12, 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.

BANK ACTIVITY 

On April 9, 2024, Ixonia Bank, a Wisconsin-chartered bank, filed an application pursuant to Section 36a-412(d) of the Connecticut General Statutes, seeking approval to establish a loan production office at 707 Main Street in Branford, Connecticut. The proposed opening date is June 1, 2024.

NEW BANK ACTIVITY 

On April 9, 2024, Moneycorp, Inc. filed an application to organize Moneycorp Bank US, with a main office to be located in Stamford, Connecticut, as an uninsured bank pursuant to Section 36a-70 of the Connecticut General Statutes. The public portion of the application is available for inspection at the Department of Banking. 

CONSUMER CREDIT DIVISION ACTIVITY 

Order Revoking Mortgage Lender License, Order to Cease and Desist and Order Imposing Civil Penalty

On April 8, 2024, the Commissioner issued an Order Revoking Mortgage Lender License, Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of: HOMETOWN LENDERS, INC. (NMLS # 65084) (“Respondent”), Huntsville, Alabama.  The basis of the Order was that: (1) Respondent failed to maintain the minimum tangible net worth of $250,000 required pursuant to Section 36a-488(a)(1)(A) of the Connecticut General Statutes; (2) Respondent failed to file with the Nationwide Multistate Licensing System and Registry (“NMLS”) or otherwise notify the Commissioner of the decrease in its tangible net worth from the minimum amount required pursuant to Section 36a-488(a)(1)(A) of the Connecticut General Statutes not later than the requisite 15 days of its occurrence, in violation of Section 36a-490(c)(9) of the Connecticut General Statutes; (3) Respondent failed to designate a qualified individual who meets the requirements set forth in Section 36a-488(a)(1)(B) of the Connecticut General Statutes within 30 days of a vacancy in the position; and (4) Respondent failed to file with NMLS or otherwise notify the Commissioner of the revocations of its licenses not later than the requisite 15 days of their occurrence, in violation of Section 36a 490(c)(3) of the Connecticut General Statutes. The Order revokes Respondent’s license to engage in the business of a mortgage lender in Connecticut from 350 The Bridge Street, Suites 116, 200 and 202, Huntsville, Alabama, orders Respondent to cease and desist from violating subdivisions (3) and (9) of Section 36a-490(c) of the Connecticut General Statutes, and imposes a civil penalty in the amount of $100,000 upon Respondent.

      Dated:  Tuesday, April 16, 2024

      Jorge L. Perez
      Banking Commissioner