The Department of Banking News Bulletin
Bulletin # 2850 - Week Ending October 5, 2018
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 business days from the date of this bulletin.
STATE BANK ACTIVITY
Acquisition
On September 25, 2018, the Commissioner issued a notice of intent not to disapprove the acquisition by People’s United Financial, Inc., a Delaware corporation and bank holding company, of First Connecticut Bancorp, Inc., a Maryland corporation and bank holding company, and, indirectly, Farmington Bank, a Connecticut-chartered bank and wholly-owned subsidiary of First Connecticut Bancorp, Inc., pursuant to Section 36a-185 of the Connecticut General Statutes. The acquisition will be accomplished through the merger of Farmington Bank with and into People’s United Bank, N.A., a national bank headquartered in Bridgeport, Connecticut that is a wholly-owned subsidiary of People’s United Financial, Inc. pursuant to Section 36a-126(b) of the Connecticut General Statutes.
CONSUMER CREDIT DIVISION ACTIVITY
Consent Order
On September 21, 2018, the Commissioner entered into a Consent Order with Plaza Services, LLC d/b/a Plaza Services of Atlanta, LLC (NMLS # 1619541) (“Plaza Services”), Atlanta, Georgia. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Plaza Services acted within this state as a consumer collection agency without the requisite consumer collection agency license, in violation of Section 36a-801(a) of the 2018 Supplement to the General Statutes. As part of the Consent Order, Plaza Services paid $10,000 as a civil penalty and $400 as a back licensing fee.
Jorge L. Perez
Banking Commissioner