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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.

On December 28, 2009, pursuant to Section 36a-468a of the Connecticut General Statutes, American Mutual Credit Union, Inc., Bloomfield, and Jordan Mutual Benefit Association, Bloomfield, both Connecticut credit unions, were granted approval to merge with and into Victory/Piaterer Mutual Benefit Association, East Hartford, a Connecticut credit union. 

On December 23, 2009, the Banking Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against Royal Burgundy International, Inc. of 172 W. Warren Avenue, Suite 200, Longwood, Florida.  The action alleged that, from at least August 2008 forward, Royal Burgundy International, Inc. offered and sold coffee distributorship business opportunities to at least one Connecticut purchaser-investor in contravention of Section 36b-67 of the Connecticut Business Opportunity Investment Act.  The respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist and Notice of Intent to Fine.

On December 22, 2009, 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:  Palomar Bancorp, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 1947 Camino Vida Roble, Suite 215, Carlsbad, California, in violation of Section 36a 492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, 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:  Atlantis Mortgage Corporation d/b/a Atlantis Funding Corporation (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 29 Union Street, New Bedford, Massachusetts, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, 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:  First Universal Network, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 127 Route 59, Monsey, New York, in violation of Section 36a-492(a) of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, 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:  Frontier Financial Group, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 21 Pershing Street, Hamden, Connecticut, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Mortgage Lender License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  CornerStone Bancor Mortage Corp. d/b/a CornerStone Bancor (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 208 Route 109, Suite 100, Farmingdale, New York, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Mortgage Lender License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  Advisors Mortgage Group, LLC d/b/a AMG Mortgage (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 115 Middle Street, Bridgeport, Connecticut, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  C.C. Mortgage Company LLC (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 55 Rampart Drive, Glastonbury, Connecticut, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  EZ Mortgage, LLC (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 240 Butler Street, Hamden, Connecticut, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  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.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke and Refuse to Renew Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  Receivables Management Solutions, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 260 East Wentworth Avenue, W. St. Paul, Minnesota, in violation of Section 36a-802(a) of the Connecticut General Statutes, as amended by Public Act 09-208.  The Commissioner also found that public welfare required the issuance of 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.  A copy of the Notice can be obtained from the Department’s website.

On December 21, 2009, the Commissioner issued a Notice of Intent to Refuse to Renew Mortgage Loan Originator License and Notice of Right to Hearing (“Notice”) in the Matter of:  Karen Lisa Cabral a/k/a Karen Cabral-Allen (“Respondent”).  The Notice alleged that Respondent pled nolo contendere to a felony which has not been pardoned, that Respondent made a false or misleading statement in a material respect in response to Question 1 on an Originator Addendum, in violation of Section 36a-53a of the Connecticut General Statutes, and that such statement fails to demonstrate that Respondent has the character and general fitness so as to command the confidence of the community and to warrant a determination that Respondent will operate honestly, fairly and efficiently within the purpose of Sections 36a 485 to 36a-498c, inclusive, as amended, Sections 36a-534a and 534b, as amended, and sections 9 and 19 to 21, inclusive, of Public Act 09-209.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.  A copy of the Notice can be obtained from the Department’s website.

On December 21, 2009, the Commissioner issued a Notice of Intent to Refuse to Renew Broker License, 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:  Diversified Investment Services, Inc. (“Respondent”).  The Notice alleged that Respondent:  (1) failed to pay fees required by the then applicable Section 36a 491(a)(1) of the Connecticut General Statutes in connection with its renewal application, which constitutes a failure to meet the minimum standards for renewal of its license to act as a mortgage broker from 4133 Whitney Avenue, 1-A, Hamden, Connecticut, as set forth in Section 36a 489(a)(2)(A)(iii) of the Connecticut General Statutes, as amended by Public Acts 09-207, 09-208 and 09-209; (2) failed to establish and maintain a tangible net worth in the required statutory amount, which constitutes a violation of Section 36a-488(a)(2) of the Connecticut General Statutes, as amended by Public Act 09-209, and a failure to meet the minimum standards for renewal of a license under Sections 36a-489(a)(1)(A) and 36a 488(a)(1)(A)(ii) of the Connecticut General Statutes, as amended; (3) failed to pay personal property taxes resulting in the issuance of an outstanding tax lien, which demonstrates that the financial responsibility of Respondent will not command the confidence of the community and warrant a determination that Respondent will operate honestly, fairly and efficiently within the purpose of Sections 36a-485 to 36a-498c, inclusive, as amended, Sections 36a-534a and 36a-534b, as amended, and sections 9 and 19 to 21, inclusive, of Public Act 09-209; (4) refused to permit a Division examiner entry into Respondent’s office or otherwise respond to the examiner’s attempts to contact Respondent for such purpose, which constitutes a violation of Section 36a 17(d) of the Connecticut General Statutes; and (5) demonstrated that Respondent does not possess the character and general fitness such as to command the confidence of the community and to warrant a determination that Respondent will operate honestly, fairly and efficiently within the purpose of Sections 36a-485 to 36a-498c, inclusive, as amended, Sections 36a-534a and 534b, as amended, and sections 9 and 19 to 21, inclusive, of Public Act 09-209.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.  A copy of the Notice can be obtained from the Department’s website.

On December 15, 2009, the Commissioner entered into a Settlement Agreement with Scholastic Mortgage, LLC (“Scholastic Mortgage”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Scholastic Mortgage employed or retained, during the period of November 2006 through September 2008, twelve (12) individuals as originators or mortgage loan originators without registering or licensing such individuals, in violation of Sections 36a-486(b) and 36a-511(b) of the then applicable Connecticut General Statutes.  Scholastic Mortgage agreed to make a voluntary contribution to the State Regulatory Registry LLC, a wholly-owned subsidiary of the Conference of State Bank Supervisors (“CSBS”), in the amount of $12,000 to support the Nationwide Mortgage Licensing System and Registry, jointly developed by CSBS and the American Association of Residential Mortgage Regulators.  A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner entered into a Settlement Agreement with Blake Financial LLC (“Blake Financial”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Blake Financial employed or retained, during the period of September 12, 2008 through February 11, 2009, two (2) individuals as mortgage loan originators without licensing such individuals in violation of Section 36a-486(b) of the Connecticut General Statutes.  Blake Financial agreed to make a voluntary contribution to the State Regulatory Registry LLC, a wholly-owned subsidiary of the Conference of State Bank Supervisors (“CSBS”), in the amount of $2,000 to support the Nationwide Mortgage Licensing System and Registry, jointly developed by CSBS and the American Association of Residential Mortgage Regulators. A copy of the Notice can be obtained from the Department’s website.

On December 22, 2009, the Commissioner entered into a Settlement Agreement with Elm Tree Funding, LLC (“Elm Tree Funding”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Elm Tree Funding employed or retained, during the period of May 11, 2007 through June 23, 2009, one (1) individual as an originator or mortgage loan originator without registering or licensing such individual, in violation of Sections 36a-486(b) and 36a-511(b) of the then applicable Connecticut General Statutes.  As part of the Settlement Agreement, Elm Tree Funding paid a civil penalty in the amount of $1,000.  A copy of the Notice can be obtained from the Department’s website.