DOB: Bulletin 2465 - May 20, 2011

The Department of Banking News Bulletin 

Bulletin # 2465
Week Ending May 20, 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
Conversion/Acquisition
 
On May 16, 2011, pursuant to Sections 36a-197 and 36a-136 of the Connecticut General Statutes, the Commissioner approved the conversion of First Connecticut Bancorp, Inc. from a mutual holding company to a capital stock holding company, and, pursuant to Section 36a-198 of the Connecticut General Statutes approved the application of First Connecticut Bancorp, Inc. for the establishment of a subsidiary holding company to be known as Farmington Holdings, Inc.  Also, on May 16, 2011, pursuant to Section 36a-185 of the Connecticut General Statutes, the Commissioner issued a notice of intent not to disapprove the acquisition by Farmington Holdings, Inc. and First Connecticut Bancorp, Inc., a newly-formed Maryland stock corporation, to acquire 100% of the issued and outstanding common stock of Farmington Bank, a Connecticut bank headquartered in Farmington, Connecticut.

CONSUMER CREDIT DIVISION ACTIVITY
Notice of Intent to Revoke and Refuse to Renew
Consumer Collection Agency License
 
On May 9, 2011, the Commissioner issued a Notice of Intent to Revoke and Refuse to Renew Consumer Collection Agency License and Notice of Right to Hearing (“Notice”) in the Matter of:  Regent Asset Management Solutions North America, LLC (“Respondent”).  The Notice alleged that Respondent failed to provide the information requested to complete its renewal application, which renders the Commissioner unable to determine that Respondent is in all respects properly qualified and that the granting of a consumer collection agency license to Respondent is not against the public interest, which constitutes grounds to deny an application for such license and, in turn, constitutes grounds for the Commissioner to revoke and refuse to renew Respondent’s license to act as a consumer collection agency in Connecticut from 8665 West 96th Street, Suite 100, Overland Park, Kansas, pursuant to Section 36a-804(a) and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.
 
Notices of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty
 
On May 9, 2011, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  Anderson, Crenshaw & Associates, L.L.C. d/b/a Debt Liquidation Group (“Respondent”).  The Notice alleged that Respondent acted within this state as a consumer collection agency without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.
 
On May 9, 2011, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  Dennis Scott Carruthers d/b/a D. Scott Carruthers, Attorneys at Law (“Respondent”).  The Notice alleged that Respondent acted within this state as a consumer collection agency without a consumer collection agency license in violation of Section 36a-801(a) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.
 
Order Revoking Consumer Collection Agency License
and Order to Cease and Desist
 
On May 10, 2011, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Falcon Properties LLC (“Respondent”).  The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 264 Amity Road, Suite 208, Woodbridge, Connecticut, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-802(a) of the 2010 Supplement to the General Statutes.
 
 
       Dated:  Tuesday, May 24, 2011
 
       Howard F. Pitkin
       Banking Commissioner