Regulatory Alerts2015-08-07
Added · Updated
Bulletin 2685 - August 7, 2015
Farmington Bank filed applications to establish branches in Manchester and Vernon, Connecticut. Manufacturers and Traders Trust Company closed its loan production office in North Haven, Connecticut. CMRE Financial Services, Inc. entered into a Consent Order requiring a $10,000 civil penalty and a $900 back licensing fee for operating as an unlicensed consumer collection agency in the state.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 2685 - Week Ending August 7, 2015
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 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
08/05/15
Farmington Bank
Farmington
299 Middle Turnpike West
Manchester, CT 06040
Filed
08/05/15
Farmington Bank
Farmington
135 Talcottville Road
Vernon, CT 06066
Filed
Interstate Loan Production Office
On July 31, 2015, Manufacturers and Traders Trust Company , Buffalo, New York, closed its loan production office at 393 State Street, North Haven, Connecticut.
CONSUMER CREDIT DIVISION ACTIVITY
Consent Order
On July 28, 2015, the Commissioner entered into a Consent Order with CMRE Financial Services, Inc. (“CMRE Financial”), Brea, California. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that CMRE Financial, during the period from at least October 1, 2013 to March 25, 2015, 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 Connecticut General Statutes. As part of the Consent Order, CMRE Financial paid $10,000 as a civil penalty and $900 as a back licensing fee.
Dated: Tuesday, August 11, 2015
Jorge L. Perez Banking Commissioner