Bulletin 2690 - September 11, 2015

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2690 -
Week Ending September 11, 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

09/08/15

Newtown Savings Bank

Newtown

126 Monroe Turnpike

Trumbull, CT 06611

Approved

09/08/15

Farmington Bank

Farmington

28 School Street, Suite C

Branford, CT 06405

Approved *

*Loan Production Office

CONSUMER CREDIT DIVISION ACTIVITY

Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License and Notice of Intent to Issue Order to Cease and Desist

On September 3, 2015, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:
Richard J. Boudreau & Associates, LLC
(“Respondent”), Woburn, Massachusetts. The Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent failed to maintain a surety bond that runs concurrently with the period of its consumer collection agency license for its office located at 50 & 55 Tower Office Park, Woburn, Massachusetts, in violation of Section 36a-802(a) of the Connecticut General Statutes. The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist. Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.

Order Revoking Consumer Collection Agency License and Order to Cease and Desist

On September 4, 2015, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:
Dynamic Recovery Services, Inc.
(“Respondent”), Farmers Branch, Texas. The Order was based on Respondent’s failure to maintain a surety bond that runs concurrently with the period of its consumer collection agency license, in violation of Section 36a-802(a) of the Connecticut General Statutes. The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 4101 McEwen Road, #150, Farmers Branch, Texas, and orders Respondent to cease and desist from violating Section 36a-802(a) of the Connecticut General Statutes.

On September 4, 2015, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:
Prestige Collection LLC
(“Respondent”), East Haddam, Connecticut. The Order was based on Respondent’s failure to maintain a surety bond that runs concurrently with the period of its consumer collection agency license, in violation of Section 36a 802(a) of the Connecticut General Statutes. The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 188 Injun Hollow Road, Haddam Neck, Connecticut, and orders Respondent to cease and desist from violating Section 36a-802(a) of the Connecticut General Statutes.

Dated: Tuesday, September 15, 2015

Jorge L. Perez
Banking Commissioner