Regulatory Alerts2014-11-14
Added · Updated
Bulletin 2646 - November 7, 2014
The Connecticut Department of Banking approved United Bank's branch at 12 Main Street in Rockville and authorized Farmington Bank to open a location at 138 Memorial Avenue in West Springfield, Massachusetts. Additionally, the Commissioner issued a Notice of Intent to Issue an Order to Cease and Desist and to impose a civil penalty against Northeast Funding Services, Inc. for failing to timely file annual information with the Nationwide Mortgage Licensing System and Registry. Written comments regarding these actions must be submitted to the Banking Commissioner within ten days of the bulletin's date.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 2646 - Week Ending November 7, 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, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. 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
11/10/14
United Bank
Rockville
*12 Main Street
Ellington, CT 06029
Approved
11/12/14
Farmington Bank
Farmington
138 Memorial Avenue
West Springfield, MA 01089
Opening
Date
*Loan Production Office
CONSUMER CREDIT DIVISION ACTIVITY
Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty
On November 6, 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 (“Notice”) in the Matter of: Northeast Funding Services, Inc. d/b/a N.E. Funding Service d/b/a N.E. Funding Services (NMLS # 46813) (“Respondent”), Latham, New York. The Notice was the result of an investigation by the Consumer Credit Division. The Notice alleges that Respondent failed to timely file certain annual information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes, as amended by Public Act 14-89. Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.
Dated: Tuesday, November 18, 2014
Howard F. Pitkin Banking Commissioner
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