Bulletin 2742 - September 9, 2016

State of Connecticut Department of Banking

The Department of Banking News Bulletin

Bulletin # 2742 - Week Ending September 9, 2016

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, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage.  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-Branch Type

09/09/16

First Bank of Greenwich

Cos Cob

898 Summer Street

Stamford, CT  06905

Approved -

Full Service

CONSUMER CREDIT DIVISION ACTIVITY

Consent Order

On August 31, 2016, the Commissioner entered into a Consent Order with U.S. Equity Advantage Holdings, Inc. f/k/a U.S. Equity Advantage Holdings, LLC (“U.S. Equity”), Orlando, Florida.  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that from approximately January 2008 to May 2014, U.S. Equity engaged in the business of money transmission in this state without a license, in violation of Section 36a 597 of the Connecticut General Statutes.  U.S. Equity agreed to cease and desist from engaging in the business of money transmission in this state without a license and to pay a civil penalty of $150,000.

Dated: Tuesday, September 13, 2016

Jorge L. Perez Banking Commissioner