In accordance with Sections 3-70a(e), 16-262j(d), 47a-21(i)(2) and 49-2a(c) of the Connecticut General Statutes, the deposit index for calendar year 2010 is 0.24%.  However, Sections 3-70a(e), 16-262j(c),  47a-21(i)(1) and 49-2a(a) provide that in no event shall the rate be less than 1.5%.  Therefore, the interest rate to be paid on claims for property, funds or money delivered to the State Treasurer pursuant to Section 3-57a(a)(1) or (2), and mortgage escrow accounts, public service company, certified telecommunications provider and electric supplier customer security deposits and tenant security deposits is 1.5% for the period commencing January 1, 2011 and ending December 31, 2011.

Date	Check Casher	Location	Activity
11/22/10	Brass City Check Cashing LLC	1274 Thomaston Avenue Waterbury, CT  06704	filed
11/22/10	State Street Check Cashing, LLC	1328 State Street New Haven, CT  06511	filed

  Settlement Agreements

On December 1, 2010, the Commissioner entered into a Settlement Agreement with APM Financial Solutions, LLC (“APM Financial”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged in a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing issued against APM Financial on September 14, 2010, that APM Financial, in violation of Section 36a-802(a) of the 2010 Supplement to the Connecticut General Statutes, failed to maintain a surety bond that ran concurrent with its license to act as a consumer collection agency in Connecticut for 2C South Gold Drive, Hamilton, New Jersey.  As part of the Settlement Agreement, APM Financial filed a replacement bond.

On November 30, 2010, the Commissioner entered into a Settlement Agreement with Donna Lynn Petrafassi (“Petrafassi”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged in a Notice of Intent to Refuse to Renew Mortgage Loan Originator License and Notice of Right to Hearing (“Notice”) issued on August 13, 2010, that certain felony convictions, which have not been pardoned, would be sufficient grounds for the Commissioner to deny an application for a mortgage loan originator license under Section 36a 489(b)(1)(B) of the 2010 Supplement to the General Statutes, and constitute sufficient grounds for the Commissioner to refuse to renew Petrafassi’s mortgage loan originator license.  The Notice further alleged that such felony convictions also cause Petrafassi to fail to meet the minimum standards for renewal of such license under Section 36a 489(b)(2) of the 2010 Supplement to the General Statutes, which shall cause such license to expire.  As part of the Settlement Agreement, Petrafassi requested surrender of her mortgage loan originator license and ceased acting as a mortgage loan originator in Connecticut.

On November 30, 2010, the Commissioner entered into a Settlement Agreement with Nathan M. Russo (“Russo”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner issued an Order of Summary Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Revoke Mortgage Loan Originator License, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing issued on August 3, 2010 (“Notice”).  Among other things, the Commission alleged that the filing of (1) a Criminal Complaint in the United States District Court for the District of Connecticut (Case No. 3:10-mj-00097-EBB), charging that Russo, among others, conspired to defraud the United States in connection with mortgages insured by the Federal Housing Administration (“FHA”), in violation of 18 U.S.C. 371, and conspired to commit wire fraud in violation of 18 U.S.C. 1349 (“Criminal Complaint”) and (2) a Superseding Indictment in the United States District Court for the District of Connecticut, in which the Grand Jury charged that beginning in at least February 2007 through May 2010, Russo, among others, conspired to defraud the United States by impairing, impeding, obstructing and defeating, through deceitful and dishonest means, the governmental functions of the Department of Housing and Urban Development and FHA in connection with mortgage loan insurance issued by FHA in violation of 18 U.S.C. 371; committed wire fraud in violation of 18 U.S.C. 1343; and knowingly and willfully made and caused to be made materially false, fictitious and fraudulent statements and representations involving FHA-insured mortgage loans in violation of 18 U.S.C. 1001 (“Indictment”), constitutes a basis for the Commissioner to conclude that Russo fails to demonstrate that the financial responsibility, character and general fitness of Russo are such as to command the confidence of the community and to warrant a determination that Russo will operate honestly, fairly and efficiently within the purposes of Sections 36a-485 to 36a-498f, inclusive, and 36a 534a and 36a-534b of the Connecticut General Statutes.  The Commissioner also alleged in the Notice that Russo’s failure to inform the Commissioner of the Criminal Complaint, Indictment and a June 21, 2010, Emergency Order In the Matter of:  Nathan M. Russo issued by the State of Rhode Island and Providence Plantations, Department of Business Regulation suspending his mortgage loan originator license in Rhode Island based upon the filing of the Criminal Complaint, constitutes a violation of Section 36a-490(d)(2) of the 2010 Supplement to the General Statutes.  Both violations constituted sufficient grounds for the Commissioner to revoke Russo’s mortgage loan originator license in Connecticut.  As part of the Settlement Agreement, Russo agreed to the revocation of his mortgage loan originator license.