Bulletin 2634 - August 15, 2014

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2634 -
Week Ending August 15, 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 above address. 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
.

Date

Bank

Location

Activity

08/12/14

Liberty Bank

Middletown

2518 Whitney Avenue

Hamden, CT 06518

Notice of Intent
Not to Disapprove

CONSUMER CREDIT DIVISION ACTIVITY

Consent Orders

On August 1, 2014, the Commissioner entered into a Consent Order with Intercontinental Capital Group, Inc.
(NMLS # 60134) (“Intercontinental Capital Group”), Melville, New York. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on April 22, 2014, 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 against Intercontinental Capital Group. The Commissioner alleged that Intercontinental Capital Group failed to timely file certain annual information required by mortgage call reports, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes and in violation of an order of the Commissioner. As part of the Consent Order, Intercontinental Capital Group paid $3,000 as a civil penalty.

On August 1, 2014, the Commissioner entered into a Consent Order with KWIK MORTGAGE CORPORATION (NMLS # 138075) (“KWIK MORTGAGE”), South Plainfield, New Jersey. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on April 22, 2014, 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 against KWIK MORTGAGE. The Commissioner alleged that KWIK MORTGAGE failed to timely file certain annual information required by mortgage call reports, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes and in violation of an order of the Commissioner. As part of the Consent Order, KWIK MORTGAGE paid $3,000 as a civil penalty.

On August 1, 2014, the Commissioner entered into a Consent Order with Thomas Kerns McKnight, LLP d/b/a Law Offices of Thomas K. McKnight (“Thomas K. McKnight”), Santa Ana, California. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleges that during the period of at least October 2010 through December 2013, Thomas K. McKnight engaged and offered to engage in debt negotiation in this state without the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes. As part of the Consent Order, Thomas K. McKnight was ordered to repay fees to identified Connecticut residents in identified amounts and paid $3,400 as a civil penalty.

On August 1, 2014, the Commissioner entered into a Consent Order with Woodbridge Mortgage, LLC (NMLS # 72664) (“Woodbridge Mortgage”), Glastonbury, Connecticut. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on May 5, 2014, 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 against Woodbridge Mortgage. The Commissioner alleged that Woodbridge Mortgage failed to file certain annual information required by mortgage call reports, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes and in violation of an order of the Commissioner. As part of the Consent Order, Woodbridge Mortgage paid $4,500 as a civil penalty.

Dated: Tuesday, August 19, 2014

Howard F. Pitkin
Banking Commissioner