DOB: Bulletin 2511 - Apr. 6, 2012

The Department of Banking News Bulletin 

Bulletin # 2511
Week Ending April 6, 2012

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.

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
The Bank of New Canaan
New Canaan
* 855 Main Street
   Bridgeport, CT 06604
*Limited Branch

Check Cashing Service License Activity
Date Check Casher Location Activity
Sun Communications LLC
454 Main Street
East Haven, CT 06512
Settlement Agreement
On March 23, 2012, the Commissioner, along with regulators from several other states ("State Mortgage Regulators"), entered into a Settlement Agreement with James B. Nutter & Company ("Nutter"), Kansas City, Missouri.  The Settlement Agreement was based on a multi-state examination conducted by, among others, the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Nutter employed or retained, during the period of June 1, 2008 to May 31, 2010, individuals as mortgage loan originators who were not licesned, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes.  As part of the Settlement Agreement, Nutter agreed to pay $13,000 to the Department.
     Dated:  Tuesday, April 10, 2012
       Howard F. Pitkin
       Banking Commissioner