DOB: Bulletin 2528 - August 3, 2012

The Department of Banking News Bulletin 

Bulletin # 2528
Week Ending August 3, 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.



DE NOVO LIMITED BRANCH
 
On August 1, 2012, pursuant to Section 36a-412(a)(2) of the Connecticut General Statutes, as amended by Public Act 12-96, and Section 36a-145(c)(1) of the Connecticut General Statutes, Bessemer Trust Company, N.A., a national bank headquartered in New York, New York, filed an application to establish a de novo limited branch to be located at 600 Steamboat Road, Greenwich, Connecticut.
 
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity

Date Check Casher Location Activity
8/03/12
Buckeye Check Cashing
  of Connecticut, LLC
d/b/a Checksmart
1050 E. Main Street
Bridgeport, CT  06608
Approved
 
Notice of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty
 
On June 20, 2012, 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:  Cardinal Management, LLC (“Respondent”), Carson City, Nevada.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent offered and made at least one consumer loan in Connecticut without obtaining the required license, in violation of Section 36a 555 of the Connecticut General Statutes, and charged a Connecticut resident an interest rate of greater than 12% on such loan, in violation of Section 36a-573(a) of the 2012 Supplement to the General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.
 
On June 20, 2012, 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:  National Creditline, Inc. a/k/a NationalCreditLine.com (“Respondent”), Wilmington, Delaware.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent offered and made at least one consumer loan in Connecticut without obtaining the required license, in violation of Section 36a-555 of the Connecticut General Statutes, and charged a Connecticut resident an interest rate of greater than 12% on such loan in violation of Section 36a-573(a) of the 2012 Supplement to the General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.
 
Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License
 
On June 21, 2012, the Commissioner issued a Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License and Notice of Right to Hearing (“Notice”) in the Matter of:  Anilom Mortgage Corporation (NMLS # 120299) (“Respondent”), Monroe, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to (1) maintain statutory tangible net worth, in violation of Section 36a-488(a)(2) of the 2012 Supplement to the General Statutes; (2) failed to establish that it has the minimum tangible net worth which would constitute grounds to deny a mortgage broker license under Sections 36a-489(a)(1) and 36a-488(a)(1) of the 2012 Supplement to the General Statutes; and (3) failed to timely file quarterly and annual information required by standard mortgage call reports, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes, all of which constitute sufficient grounds for the Commissioner to revoke or refuse to renew Respondent’s license to act as a mortgage broker in Connecticut under Sections 36a-494(a)(1), 36a 494(a)(1)(C) and subsections (a) and (b) of Section 36a-51 of 2012 Supplement to the General Statutes, and causes the Commissioner to be unable to find that Respondent meets the minimum standards for renewal under Section 36a-489(a)(2)(A)of the 2012 Supplement to the General Statutes.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.
 
Notice of Intent to Refuse to Renew Check Cashing Service License
 
On June 25, 2012, the Commissioner issued a Notice of Intent to Refuse to Renew Check Cashing Service License and Notice of Right to Hearing (“Notice”) in the Matter of:  Envios Gomez, LLC (“Respondent”), Hartford, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner alleges in the Notice that Respondent failed to submit its financial statements to the Commissioner, in violation of Section 36a-588-4 of the Regulations of Connecticut State Agencies, which constitutes sufficient grounds for the Commissioner to refuse to renew Respondent’s check cashing license pursuant to Section 36a-587(a)(3) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes.  Respondent was afforded an opportunity for a hearing.
 
Order to Cease and Desist, Order of Repayment of Fees
and Order Imposing Civil Penalty
 
On June 25, 2012, the Commissioner issued an Order to Cease and Desist, Order of Repayment of Fees and Order Imposing Civil Penalty (“Order”) In the Matter of:  Fidelity Debt Solutions, LLC (“Respondent”), San Diego, California.  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 Connecticut General Statutes, in effect prior to October 1, 2011.  Respondent was ordered to cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes, in effect prior to October 1, 2011; to repay fees to identified Connecticut residents; and to pay a civil penalty in the amount of $100,000.
 
     Dated:  Tuesday, August 7, 2012
 
 
       Howard F. Pitkin
       Banking Commissioner