DOB: Bulletin 2447 - Jan. 14, 2011

The Department of Banking News Bulletin 

Bulletin # 2447
Week Ending January 14, 2011

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 2010 Supplement to the 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
01/24/11
Savings Bank of Danbury
Danbury
325 Main Street South
Southbury, CT  06488
opening
date
 
CREDIT UNION ACTIVITY
Branch Activity
 
Date Credit Union Location Activity
01/18/11
Connex Credit Union
North Haven
FROM: 227 Church Street
         New Haven, Ct 06510
TO:    2 Whitney Avenue
         New Haven, CT 06510
relocation
opening
date
 
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
 
Date Check Casher Location Activity
01/14/11
State Street Check
  Cashing, LLC
1328 State Street
New Haven, CT  06511
approved
 
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Order to Cease and Desist and Notice of Intent to Fine Issued

On January 11, 2011, the Banking Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against Mortgage and Credit Solutions, LLC of 155 North College Avenue, Suite 220, Fort Collins, Colorado, and Sean Patrick Moriarty, its sole owner and managing member.  The action alleged that, from at least June 2008 forward, the respondents offered and sold unregistered business opportunities to Connecticut purchaser-investors in violation of the Connecticut Business Opportunity Investment Act.  The business opportunity in question would enable purchasers to start a mortgage and credit counseling business.  The respondents allegedly represented that they would provide marketing support to purchaser-investors as well as an income guarantee.  The respondents were afforded an opportunity to request a hearing on the Order to Cease and Desist and Notice of Intent to Fine.
 
       Dated:  Wednesday, January 19, 2011
 
       Howard F. Pitkin
       Banking Commissioner