DOB: News Bulletin 2410 - April 30, 2010

The Department of Banking News Bulletin 

Bulletin # 2410
Week Ending April 30, 2010

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
Branch Activity
 
Section 36a-145 of the Connecticut General Statutes requires certain applications 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
4/29/10
The Connecticut Bank
  and Trust Company
Hartford
114 Woodland Street
Hartford, CT  06105
filed

Acquisition Statement
 
On April 28, 2010, pursuant to Section 36a-184 of the Connecticut General Statutes, GAP V Bankvest, LLC, Greenfield Acquisition Company V, LLC, Greenfield Acquisition Partners V, L.P., GAP V Management, LLC, Greenfield Partners, LLC, and Eugene A. Gorab filed an acquisition statement to acquire approximately 24.9% of the voting securities of Alcar LLC, and indirectly approximately 11 percent of the voting securities of Darien Rowayton Bank, a Connecticut Bank.

CONSUMER CREDIT DIVISION ACTIVITY
Settlement Agreements
 
On April 19, 2010, the Commissioner entered into a Settlement Agreement with Duong Van Le d/b/a Elenis Market (“Duong Van Le”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Duong Van Le engaged in the business of a cashing checks, drafts and money orders for consideration without having obtained the required license to operate a general facility or a limited facility, in violation of Section 36a 581(a) of the 2010 Supplement to the General Statutes.  The Commissioner also alleged that Duong Van Le charged a sum exceeding two percent of the item for cashing checks, drafts or money orders drawn on a depository institution, in violation of Section 36a-585 of the Connecticut General Statutes and Section 36a-585-1 of the Regulations of Connecticut State Agencies.  As part of the Settlement Agreement, Duong Van Le will pay a civil penalty in the amount of $3,000, and agreed to not engage in the business of cashing checks, drafts or money orders for consideration without obtaining a license to operate a check cashing general facility or limited facility for each location where such business is to be conducted and agreed to not charge a sum exceeding that permitted by law for cashing checks, drafts or money orders.  A copy of the Settlement Agreement can be obtained from the Department’s website.
 
On April 16, 2010, the Commissioner entered into a Settlement Agreement with Rodriguez Communications, LLC (“Rodriguez Communications”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Rodriguez Communications, during the period of February 1, 2006 through October 15, 2009, engaged in the business of a cashing checks, drafts and money orders for consideration without having obtained the required license to operate a general facility or a limited facility, in violation of Section 36a 581(a) of the 20010 Supplement to the General Statutes.  As part of the Settlement Agreement, Rodriguez Communications will pay a civil penalty in the amount of $7,500, and agreed to not engage in the business of cashing checks, drafts or money orders for consideration without obtaining a license to operate a check cashing general facility or limited facility for each location where such business is to be conducted.  A copy of the Settlement Agreement can be obtained from the Department’s website.
 
 
       Dated:  Tuesday, May 4, 2010
 
 
       Howard F. Pitkin
       Banking Commissioner