DOB: News Bulletin 2008 - August 16, 2002

The Department of Banking News Bulletin

Bulletin # 2008
Week Ending August 16, 2002

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 John P. Burke, Commissioner of Banking, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.


BRANCH ACTIVITY
State Bank Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

Date Bank Location Activity
08/13/02 People's Bank
Bridgeport
*Stop & Shop
  Buckland Road
  South Windsor, CT 06074
approved
08/13/02 People's Bank
Bridgeport
*#Stop & Shop
    275 Highland Avenue
    Cheshire, CT 06410
approved
08/13/02 People's Bank
Bridgeport
*Stop & Shop
  New London Turnpike
  Glastonbury, CT 06033
approved
08/14/02 The Bank of Southern Connecticut
New Haven
1475 Whalley Avenue
New Haven, CT 06525
approved
08/13/02 People's Bank
Bridgeport
FROM: 30 Norwich Avenue
          Norwich, CT  06360
TO:     45 Town Street
          Norwich, CT  06360
approved
to relocate
* Limited Branch
# Previously listed as 205 Highland Avenue.
   Post Office changed address to 275 Highland Avenue.

CHECK CASHING SERVICE LICENSE ACTIVITY

On August 15, 2002, pursuant to Section 36a-581 of the Connecticut General Statutes, City Check Cashing Inc. filed an application to operate a check cashing service general facility at 435 Main Street, Manchester, Connecticut.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Danbury Man Permanently Barred from
Securities Business in Connecticut; Fined $5,000

On August 14, 2002, the Commissioner entered a Consent Order with respect to Edward Blasco of 128 East Liberty Street, Danbury, Connecticut. The Consent Order alleged that in October and November 1999, Blasco violated Section 36b-16 of the Connecticut Uniform Securities Act by soliciting investors for the purchase of unregistered shares of Sebring Systems, Inc. (now known as PLX Technology, Inc.) Series C preferred stock. The Consent Order also alleged that Blasco violated Section 36b-6(a) of the Act by transacting business in Connecticut as an unregistered agent of issuer.

The Consent Order permanently barred Blasco from transacting business in Connecticut as an investment adviser, investment adviser agent, broker-dealer or agent and fined him $5,000. In addition, the Consent Order directed Blasco to provide to the Division within 30 days 1) an itemized accounting showing the number of shares due to each Connecticut investor; and 2) evidence that the transfer agent had effected the transfer of those shares to the investors involved.

Dated: Tuesday, August 20, 2002

John P. Burke
Commissioner