DOB: News Bulletin 2269 - August 17, 2007

The Department of Banking News Bulletin 

Bulletin # 2269
Week Ending August 17, 2007

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.

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
Newtown Savings Bank
200 Leavenworth Road
Shelton, CT  06484
Check Cashing Service License Activity
Date Check Casher Location Activity
Al Sue LLC
1310 Dixwell Avenue
Hamden, CT  06514
Connecticut State Check
  Cashing Service, Inc.
2268 Fairfield Avenue
Bridgeport, CT  06605
8/13/07 Franklin Check and Cash Inc.
454 Franklin Avenue
Hartford, CT  06114

On August 16, 2007, pursuant to Section 36a-181 of the Connecticut General Statutes, the Commissioner granted approval to The Bank of New Canaan, a capital stock Connecticut bank, to organize BNC Financial Group, Inc., as a holding company.  Also on August 16, 2007, pursuant to Section 36a-107 of the Connecticut General Statutes, the Commissioner approved the reduction in capital stock at The Bank of New Canaan.
Consent Order Issued
On August 8, 2007, the Commissioner issued a Consent Order with respect to Strand, Atkinson, Williams & York, Inc., an applicant for broker-dealer registration located at 200 SW Market Street, Suite 1900, Portland, Oregon.  The Consent Order alleged that, from at least November 2004 through August 2006, the firm had transacted business as a broker-dealer while unregistered and had employed unregistered agents.  The Consent Order required that the firm remit $4,750 to the department.  Of that amount, $3,000 constituted an administrative fine; $750 represented past due broker-dealer and agent registration fees; and $1,000 would be applied to defray agency investigative costs.  In addition, the Consent Order directed the firm to cease and desist from regulatory violations; implement revised supervisory and compliance procedures; and file quarterly reports for two years describing any securities-related complaints, actions or proceedings involving Connecticut residents.
Strand, Atkins, Williams & York, Inc. became registered as a broker-dealer under the Connecticut Uniform Securities Act on August 8, 2007.

       Dated:  Tuesday, August 21, 2007
       Howard F. Pitkin
       Banking Commissioner