Bulletin 2632 - August 1, 2014

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2632 -
Week Ending August 1, 2014

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.

CONSUMER CREDIT DIVISION ACTIVITY

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

On July 17, 2014, the Commissioner issued a Temporary Order to Cease and Desist, Order to Make Restitution (“Order to Make Restitution”), 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”) in the Matter of:
US Loan Solutions Company
(“Respondent”), Smyrna, Georgia. The Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes in effect prior to October 1, 2011. As part of the Order to Make Restitution, Respondent was ordered to repay $2,700 plus interest to an identified Connecticut resident, and to repay any other Connecticut resident who entered into an agreement for debt negotiation services with Respondent on and after October 1, 2009, any fees paid by such Connecticut resident to Respondent plus interest. The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist against Respondent. Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.

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

On July 23, 2014, the Commissioner issued an Order to Make Restitution, 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:
Eric A. Dena
(NMLS # 251883) and
Turnkey Investment Homes, Inc. d/b/a Innovative Capital Solutions (collectively, “Respondents”), Irvine, California. The Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondents engaged or offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes, as amended by Public Act 14-7. Respondents were afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.

Dated: Tuesday, August 5, 2014

Howard F. Pitkin

Banking Commissioner