Bulletin # 3149 - Week Ending June 28, 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.

CREDIT UNION ACTIVITY

Merger

On June 26, 2024, the Commissioner approved the merger of Wellness Federal Credit Union, a federal credit union, with and into American Eagle Financial Credit Union, a Connecticut credit union, pursuant to Section 36a-468a of the Connecticut General Statutes. The proposed effective date of the merger is for July of 2024.

FIDUCIARY LICENSE ACTIVITY 

Business and Industrial Development Corporation

On June 18, 2024, the Commissioner approved the application of Capital Business Lenders, Inc. to operate as a business and industrial development corporation pursuant to Section 36a-628 of the Connecticut General Statutes.

CONSUMER CREDIT DIVISION ACTIVITY

Consent Orders

On June 21, 2024, the Commissioner entered into a Consent Order with ATM OPS INC d/b/a BITSTOP (NMLS # 1833409) (“BITSTOP”), Coral Gables, Florida. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that BITSTOP engaged in the business of money transmission in this state without the required license since at least May 2023 until September 30, 2023, in violation of Section 36a 597(a) of the Connecticut General Statutes. As part of the Consent Order, BITSTOP paid $10,000 as a civil penalty.

On June 27, 2024, the Commissioner entered into a Consent Order with PEOPLES AUTO LENDING LIMITED LIABILITY COMPANY (NMLS # 2581481) (“Peoples Auto”), East Haven, Connecticut. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that since July 2023, Peoples Auto engaged in the business of a sales finance company in Connecticut without a sales finance company license, in violation of Section 36a 536 of the Connecticut General Statutes. As part of the Consent Order, Peoples Auto paid $10,000 as a civil penalty and $400 as back licensing fees.

      Dated:  Tuesday, July 2, 2024

      Jorge L. Perez
      Banking Commissioner