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 Bruce H. Adams, Acting 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.

STATE BANK ACTIVITY
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, 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.

CONSUMER CREDIT DIVISION ACTIVITY
Notice of Intent to Issue Order to Cease and Desist and
Notice of Intent to Impose Civil Penalty

On January 13, 2015, 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:  Customized Mortgage Solutions, LLC (NMLS # 214882) (“Respondent”), Old Tappan, New Jersey.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner alleges that Respondent failed to timely file certain quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes, as amended by Public Act 14-89.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

Consent Orders

On January 14, 2015, the Commissioner entered into a Consent Order with Neighborhood Assistance Corporation of America (“NACA”) ( NMLS # 93179).  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that NACA changed the address of its branch office specified on its most recent filing with the Nationwide Mortgage Licensing System and Registry (“NMLS”) and failed to file such change with NMLS at least 30 calendar days prior to such change, and, in connection with such address change, failed to provide, directly to the Commissioner, a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects the new address of the branch office, in violation of Section 36a-490(b) of the Connecticut General Statutes.  As part of the Consent Order, NACA paid $500 as a civil penalty.

On January 15, 2015, the Commissioner entered into a Consent Order with Fidelity One Credit, Corp (“Fidelity One”), Provo, Utah.  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Fidelity One, during the period of December 15, 2008 through July 1, 2013, engaged in the business of making loans in Connecticut in the amount of $15,000 or less and charged, contracted for or received a greater rate of interest than 12% per annum therefor (“small loans”), in violation of Section 36a-555 of the Connecticut General Statutes, and, that, in connection with the small loans, Fidelity One, during the period of December 15, 2008 through July 1, 2013, received interest in excess of 12% on such loans, in violation of Section 36a-573(a) of the Connecticut General Statutes.  As part of the Consent Order, Fidelity One was ordered, among other things, to repay identified Connecticut residents in identified amounts, which amounts represent interest paid by such Connecticut residents in excess of 12% per annum, and to provide proof of such payment to the Division Director.

 Dated:  Tuesday, January 27, 2015

 Bruce H. Adams
 Acting Banking Commissioner