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Section 361-145 of the Connecticut General Statutes requires certain applications for a branch, of 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:  October 5, 2017

BANK:  The Milford Bank, Milford

LOCATION:  96B Broad Street, Guilford, CT  06437

ACTIVITY-BRANCH TYPE:  Application for Limited Branch Withdrawn

On September 27, 2017, the Commissioner entered into a Consent Order with Central Portfolio Control Inc (NMLS # 929038) (“Central Portfolio”), Minnetonka, Minnesota. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Central Portfolio acted as a consumer collection agency in Connecticut without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes. As part of the Consent Order, Central Portfolio paid $5,000 as a civil penalty.

On September 29, 2017, the Commissioner entered into a Consent Order with Franklin American Mortgage Company (NMLS # 1599) (“Franklin American”), Franklin, Tennessee. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Franklin American failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its branch office at least 30 calendar days prior to such change and, in connection with such address change, failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a 490(b) of the Connecticut General Statutes. As part of the Consent Order, Franklin American paid $500 as a civil penalty.