DOB: Bulletin 2477 - August 12, 2011

The Department of Banking News Bulletin 

Bulletin # 2477
Week Ending August 12,  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
08/12/11
Rockville Bank
Rockville
FROM:  1302 Hartford Turnpike
           Vernon, CT  06066
TO:      20 Hyde Avenue
           Vernon, CT  06066
approved
to relocate
 
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
 
Date Check Casher Location Activity
08/10/11
Free Enterprise Partners LLC
d/b/a Family Financial Center
6 North Water Street
Greenwich, CT  06830
filed
 
Notice of Automatic Suspension, Temporary Order to Cease and Desist,
Notice of Intent to Revoke Mortgage Broker License,
Notice of Intent to Issue Order to Cease and Desist
 
On June 29, 2011, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  Blum Group LLC d/b/a Blum Group Lending (“Respondent”).  The Notice alleges that Respondent failed to maintain a surety bond that runs concurrent with the period of its mortgage broker license for 530 Middlebury Road, Suite 213B, Middlebury, Connecticut, in violation of Section 36a-492 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 Revoking and Refusing to Renew Consumer Collection Agency License
 
On June 29, 2011, the Commissioner issued an Order Revoking and Refusing to Renew Consumer Collection Agency License (“Order”) in the Matter of:  Regent Asset Management Solutions North America, LLC (“Respondent”).  The basis of the Order was Respondent’s failure to provide information requested by the Consumer Credit Division to complete its application for the renewal of its consumer collection agency license.  The Order revokes and refuses to renew Respondent’s license to act as a consumer collection agency in Connecticut from 8665 West 96th Street, Suite 100, Overland Park, Kansas.
 
Order to Cease and Desist and Order imposing Civil Penalty
 
On June 30, 2011, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of:  Ben Nkonye Irabor (“Respondent”).  The basis of the Order was that Respondent acted as an unlicensed mortgage loan originator on two occasions in violation of Section 36a 486(b) of the then applicable Connecticut General Statutes.  Respondent was ordered to cease and desist from violating Section 36a-486(b) of the applicable Connecticut General Statutes and to pay a civil penalty in the amount of $15,000.
 
On July 1, 2011, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of:  Anderson, Crenshaw & Associates, L.L.C. d/b/a Debt Liquidation Group (“Respondent”).  The basis of the Order was 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 ordered to cease and desist from violating Section 36a-801(a) of the Connecticut General Statutes and to pay a civil penalty in the amount of $25,000.
 
Consent Orders
 
On July 1, 2011, the Commissioner entered into a Consent Order with Veronica Rose Czarniewski (“Czarniewski”).  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged in a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing issued on January 19, 2011, that Czarniewski:  (1) acted as an unlicensed mortgage loan originator in connection with a residential mortgage loan in Connecticut, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes; and (2) misrepresented, concealed, suppressed, intentionally omitted or otherwise intentionally failed to disclose material particulars of a mortgage loan transaction to lenders entitled to such information, in violation of Section 36a-494(b) of the then applicable Connecticut General Statutes.  As a result of subsequent investigation, the Commissioner further alleged that Czarniewski engaged in unlicensed mortgage loan activity in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes on a residential mortgage loan at a time when Czarniewski’s mortgage loan originator license was not effective and violated 36a-486(a) of the Connecticut General Statutes through advertising present on a church website on the Internet.  As part of the Consent Order, Czarniewski agreed not to engage in the business of a mortgage loan originator or advertise that she would perform such services without first obtaining and maintaining the required license.
 
On August 5, 2011, the Commissioner entered into a Consent Order with Michael Valerio (“Valerio”).  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged in a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing issued on January 19, 2011, that Valerio:  (1) acted as an unlicensed mortgage loan originator in connection with a residential mortgage loan in Connecticut, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes; and (2) misrepresented, concealed, suppressed, intentionally omitted or otherwise intentionally failed to disclose material particulars of mortgage loan transactions to lenders entitled to such information, in violation of Section 36a-494(b) of the then applicable Connecticut General Statutes.  As a result of subsequent investigation, the Commissioner further alleged that Valerio acted as an unlicensed mortgage loan originator in connection with several other residential mortgage loans in Connecticut, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes.  As part of the Consent Order, Valerio was ordered to pay $2,000 as a civil penalty.
 
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order
 
On August 9, 2011, the Banking Commissioner entered a Consent Order with respect to Douglas S. Weiss, a sole proprietor applicant for investment adviser registration located at 597 Westport Avenue, Unit A420, Norwalk, Connecticut.  The Consent Order alleged that, from at least 2007, Douglas S. Weiss transacted business as an investment adviser absent registration and, in so doing, failed to enter into written investment advisory contracts with clients as required by Section 36b-5(b) of the Connecticut Uniform Securities Act.  In resolution of the matter, Douglas S. Weiss agreed to refrain from violative conduct and to pay $5,180 to the department.  Of that amount, $4,000 constituted an administrative fine, $680 represented reimbursement for past due investment adviser registration fees; and $500 would be applied to defray the Division’s investigative costs.  Douglas S. Weiss became registered as an investment adviser in Connecticut on August 9, 2011.
 
 
       Dated:  Tuesday, August 16, 2011
 
       Howard F. Pitkin
       Banking Commissioner