The Department of Banking News Bulletin
Bulletin # 2616
Week Ending April 11, 2014
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
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.
Fairfield County Bank
215 Post Road West
Westport, CT 06880
CONSUMER CREDIT DIVISION ACTIVITY
On March 20, 2014, the Commissioner entered into a Consent Order with Asset Managing Group, Inc. (“Respondent”), Jacksonville, Florida. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on January 23, 2014, the Commissioner issued a Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing against Respondent. The Commissioner alleged 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 in effect prior to October 1, 2011. As part of the Consent Order, Respondent was ordered to immediately cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes in effect prior to October 1, 2011, and to pay a $1,000 civil penalty.
Notice of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty
On March 31, 2014, 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: Approved Credit Solutions LLC (“Respondent”), Greenwood, Indiana. 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 in effect prior to October 1, 2013. Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.
Dated: Tuesday, April 15, 2014
Howard F. Pitkin