DOB: News Bulletin 2232 - December 1, 2006

The Department of Banking News Bulletin 

Bulletin # 2232
Week Ending December 1, 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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. 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 Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
11/09/06
Salisbury Bank and Trust Co.
Salisbury
One Pathmark Plaza
Mount Vernon, New York   10550
closing
date
11/09/06
Salisbury Bank and Trust Co.
Salisbury
5 Dover Village Plaza, Suite #1
Dover Plains, New York  12522
filed
11/27/06
 
Fairfield County Bank Corp.
Ridgefield
190  Weston Road
Weston, CT  06883
approved
 

ACQUISITION
 
On November 24, 2006, pursuant to Sections 36a-412(b) and 36a-210(b) of the Connecticut General Statutes and Section 36a-145 of the 2006 Supplement to the General Statutes, Salisbury Bank and Trust Company, a Connecticut bank, filed an amendment to its application filed on November 9, 2006, to acquire a branch located at One Pathmark Plaza, Mount Vernon, New York, from New York Community Bank, a New York-chartered savings bank.
 
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
 
Date Bank Location Activity
11/27/06
C&A Market
1088 Boston Post Road
New Haven, CT  06516
approved
 
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Stipulation and Agreement
 
On November 28, 2006, the Commissioner entered into a Stipulation and Agreement with Regal Nails, LLC, now or formerly of 10146 Florida Boulevard, Baton Rouge, Louisiana and 11488 South Choctaw Drive, Baton Rouge, Louisiana.  Regal Nails, LLC was a franchisor of nail salons located in Wall-Mart Stores.  The Stipulation and Agreement alleged that, prior to establishing a colorable claim to use of the trademark exclusion in Section 36b-61(6)(D) of the Connecticut Business Opportunity Investment Act, the company made one or more unregistered business opportunity sales in Connecticut in contravention of the state’s business opportunity laws.  The Stipulation and Agreement recited that counsel to Regal Nails, LLC had represented to the Commissioner in writing that Regal Nails, LLC had ceased offering and selling franchises, and that future franchises would be sold through the company’s successor, Regal Nails, Salon & Spa, LLC.  Regal Nails, Salon & Spa, LLC filed for registration under the Act in late 2006.  Pursuant to the Stipulation and Agreement, Regal Nails, LLC agreed to pay a $3,000 fine to the department.  In addition, Regal Nails, LLC, its members, officers, agents, employees, representatives and successors in interest agreed to refrain from engaging in conduct that would constitute a violation of the Act.
 
       Dated:  Tuesday, December 5, 2006
 
       Howard F. Pitkin
       Banking Commissioner