DOB: Bulletin 2466 - May 27, 2011

The Department of Banking News Bulletin 

Bulletin # 2466
Week Ending May 27, 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 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
5/20/11
Liberty Bank
Middletown
* 297 East Center Street
   Manchester, CT  06040
filed
5/25/11
 
Torrington Savings Bank
Torrington
518 Main Street
New Hartford, CT  06057
filed
 
* Loan Production Office
 

CONSUMER CREDIT DIVISION ACTIVITY
Temporary Order to Cease and Desist, Notice of Intent to Issue Order
to Cease and Desist and Notice of Intent to Impose Civil Penalty
 
On May 13, 2011, the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and desist and Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) In the Matter of:  Jensen Legal Group, PLLC (“Respondent”).  The Notice alleges that Respondent engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes, and engaged in debt negotiation services on and after October 1, 2009, with at least one Connecticut resident and collecting fees under terms which did not comply with Section 36a-671b(b) of the Connecticut General Statutes and the Schedule of Maximum Fees established by the Commissioner pursuant to said section, in violation of Section 36a 671b(b) of the Connecticut General Statutes.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.
 
Order to Cease and Desist and Order Imposing Civil Penalty
 
On May 11, 2011, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Expert Financial Services, Inc. (“Respondent”).  The basis of the Order was that Respondent engaged and offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2010 Supplement to the General Statutes and imposed a fee upon debtors in connection with its debt negotiation activity in this state in excess of $500, in violation of Section 36a 671b(b) of the 2010 Supplement to the General Statutes.  Respondent was ordered to cease and desist from violating Sections 36a-671(b) and 36a-671b(b) of the 2010 Supplement to the General Statutes, and to pay a civil penalty in the amount of $40,000.
 
On May 18, 2011, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  GMA Modification Corp. (“Respondent”).  The basis of the Order was that Respondent engaged and offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2010 Supplement to the General Statutes.  Respondent was ordered to cease and desist from violating Section 36a-671(b) of the 2010 Supplement to the General Statutes and to pay a civil penalty in the amount of $10,000.
 
On May 19, 2011, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Mortgage Relief Group, LLC d/b/a Mortgage Assistance Group (“Respondent”).  The basis of the Order was that Respondent offered to engage and engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2010 Supplement to the General Statutes, and charged fees under terms which did not comply with Section 36a-671b(b) of the 2010 Supplement to the General Statutes and the Schedule of Maximum Fees established by the Commissioner pursuant to said section.  Respondent was ordered to cease and desist from violating Sections 36a-671(b) and 36a-671b(b) of the 2010 Supplement to the General Statutes and to pay a civil penalty in the amount of $60,000.
 
 
       Dated:  Wednesday, June 1, 2011
 
       Howard F. Pitkin
       Banking Commissioner