DOB: News Bulletin 2316 - July 11, 2008

The Department of Banking News Bulletin 

Bulletin # 2316
Week Ending July 11, 2008

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 2008 Supplement to the 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
477 Main Street
Monroe, CT  06468

On July 1, 2008, pursuant to Section 36a-81 of the Connecticut General Statutes, Darien Rowayton Bank, Darien, requested approval to relocate its main office from 19 Corbin Drive, Darien, Connecticut, to 1001 Post Road, Darien, Connecticut.
Consent Order
On June 27, 2008, the Banking Commissioner entered a Consent Order with respect to Michael M. Reilly, a former broker-dealer agent of New Castle Financial Services LLC.  The Consent Order alleged that, on May 15, 2007, Michael Reilly violated Section 36b-26(d) of the Connecticut Uniform Securities Act by refusing to produce documents in response to a department issued subpoena.  The Consent Order fined Reilly $7,500; barred him for seven years from transacting business in Connecticut as a broker-dealer, agent, investment adviser, investment adviser agent or agent of issuer; and directed him to cease and desist from regulatory violations.
The Commissioner is issuing a Notice of Intent to Amend Regulations concerning protection from mortgage foreclosure.  A copy of the proposed regulations is attached or can be viewed at the Departmentís website.
       Dated:  Tuesday, July 15, 2008
       Howard F. Pitkin
       Banking Commissioner