DOB: News Bulletin 2207 - June 9, 2006

The Department of Banking News Bulletin 

Bulletin # 2207
Week Ending June 9, 2006

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

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 Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
The Bank of Southern
New Haven
51-53 West Main Street
Clinton, CT  06413
The Bank of Western
Springfield, MA
49 Hazard Avenue
Enfield, CT  06082
On June 6, 2006, People’s Bank, a Connecticut bank with its main office located in Bridgeport, filed an application, pursuant to Section 36a-137 of the Connecticut General Statutes, to convert to a federal savings bank.
On May 15, 2006, pursuant to Section 36a-70(i) of the Connecticut General Statutes, Higher One Bank (In Organization) received approval for an extension of the period of its Temporary Certificate of Authority from June 30, 2006 to December 29, 2006.

Order to Cease and Desist and Notice of Intent to Fine Issued
On June 6, 2006, the Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against Terry Lee Feibus of 18429 Old Princton Lane, Boca Raton, Florida.  The action alleged that at various times in 2003 and 2004, respondent Feibus sold unregistered securities of Advanced Optics Electronics, Deltagen Inc., GoAmerica Inc.,, Loudeye Technologies, Paradigm Med Inds, Peregrine Pharmaceuticals Inc., Predictive Systems Inc., Robotic Vision Systems Inc., Sagent Tech Inc., Skyway Communications, Tellium Inc., Valicert Inc. and Vodavi Technology (the “Unregistered Securities”) in violation of Section 36b-16 of the Connecticut Uniform Securities Act.  The action also alleged that respondent Feibus violated Section 36b-6 of the Act by transacting business as an unregistered agent in conjunction with sales and purchases of the Unregistered Securities as well as securities of 1st Investors Blue Chip FD-1, 1st Investors Growth & Inc.-A, 1st Investors Tot Return FD A, 1st Investors USA Midcap Opp A, Charter Communication CL A, Federated Growth Strategy FD-B, Federated Hi Inc. BD FD CL-B, Federated Kaufmann B, Lantronix Inc., Lucent Technologies Inc., Prosoft I-net Solutions Inc., Radview Software Ltd., RAE Systems Inc., Redback Networks Inc., Silicon Graphics Inc. (DE), Sirius Satellite Radio Inc., Transwith Corp. and Viragen Inc.  The respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist.  A hearing on the Notice of Intent to Fine has been scheduled for August 1, 2006.
         Dated:  Tuesday, June 13, 2006
         John P. Burke