Bulletin 2497 - Week Ending December 30, 2011

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2497 -
Week Ending December 30, 2011

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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail . Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE BANK ACTIVITY

Main Office Relocation

On January 3, 2012, pursuant to Section 36a-81 of the Connecticut General Statutes, Bankers’ Bank Northeast received approval to relocate its main office from 300 Winding Brook Drive, Glastonbury, Connecticut, to 43 Western Boulevard, Suite 125, Glastonbury, Connecticut.

CONSUMER CREDIT DIVISION ACTIVITY

Check Cashing Service License Activity

Date

Check Casher

Location

Activity

01/04/12

Multitransfers, LLC

213 White Birch Drive

Waterbury, CT 06708

approved

Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On December 19, 2011, the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Notice”) against Debt Relief Servicing, LLC (“Respondent”), Anaheim, California. The Notice alleged that Respondent offered to engage and engaged in debt negotiation in this state without a license, in violation of Section 36a-671(b) of the Connecticut General Statutes. The Commissioner also found that public welfare requires immediate action to issue a Temporary Order to Cease and Desist against Respondent and orders Respondent to repay fees received from an identified Connecticut resident. Respondent is afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.

Consent Orders

On December 21, 2011, the Commissioner entered into a Consent Order with John Vincent Greco , NMLS # 29701 (“Greco”). The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Greco failed to cooperate with the Commissioner’s investigation into a complaint that had been filed against Greco in his role as President of Darien Financial Services, Inc., in violation of Section 36a-17(d) of the Connecticut General Statutes. As part of the Consent Order, Greco was ordered to pay $500 as a civil penalty.

On December 23, 2011, the Commissioner entered into a Consent Order with Official Payments Corporation (“OPC”), Reston, Virginia. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that OPC, during the period of at least January 2008 through October 20111, engaged in the business of money transmission in Connecticut without the required license, in violation of Section 36a-597(a) of the Connecticut General Statutes. As part of the Consent Order, OPC was ordered to pay $60,000 as a civil penalty.

On December 28, 2011, the Commissioner entered into a Consent Order with Mad River LLC d/b/a Twin Stop (“Mad River”), Winsted, Connecticut. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Mad River engaged in the business of cashing checks, drafts and money orders for consideration without licensure for a general facility or limited facility, in violation of Section 36a-581(a) of the Connecticut General Statutes. As part of the Consent Order, Mad River was ordered to pay $1,000 as a civil penalty.

Dated: Tuesday, January 10, 2012

Howard F. Pitkin

Banking Commissioner