DOB: Bulletin 2767 - March 3, 2017

The Department of Banking News Bulletin 

Bulletin # 2767
Week Ending March 3, 2017

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  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, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage.  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-Branch Type
The First Bank of Greenwich
Cos Cob
898 Summer Street
Stamford, CT  06905
Opening Date -
Full Service
Ion Bank
Nonnewaug High School
5 Minortown Road
Woodbury, CT  06798
Closing Date -
Limited Service Branch
Newtown Savings Bank
611 East Hill Rod
Southbury, CT  06488
Closing Date -
Limited/Special Needs

Out-of-State Trust Company
On March 1, 2017, State Street Global Advisors Trust Company, a Massachusetts-chartered limited purpose trust company, filed an application, pursuant to the provisions of Section 36a-434 of the Connecticut General Statutes, for the establishment of a trust office to be located at 1600 Summer Street, Stamford, Connecticut, to act as a fiduciary and engage in trust business. 

Order to Cease and Desist and Order Imposing Civil Penalty
  On February 21, 2017, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of:  Raul G. Coto Chang a/k/a Raul Coto (“Respondent”), New Rochelle, New York.  The basis of the Order was 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.  Respondent was ordered to cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes, and to pay a civil penalty in the amount of $100,000.  In addition, the Order of Restitution issued against Respondent on November 21, 2016, remains in effect and became permanent against Respondent on December 14, 2016.

Dated: Tuesday, March 14, 2017

Jorge L. Perez
Banking Commissioner