Bulletin 2753 - November 25, 2016

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2753 -
Week Ending November 25, 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

Interstate Loan Production Office

On November 23, 2016,
SunTrust Bank
, a Georgia-chartered commercial bank, withdrew its application to establish a loan production office at 200 Pemberwick Road in Greenwich, Connecticut. The application was initially filed November 8, 2016 pursuant to Section 36a-412(d) of the Connecticut General Statutes.

FOREIGN BANK ACTIVITY

Representative Office

On November 23, 2016, The Royal Bank of Scotland plc, with its principal place of business in Edinburgh, Scotland, United Kingdom, filed an application to establish a representative office at 600 Washington Boulevard, Stamford, Connecticut 06901 pursuant to Section 36a-428g of the Connecticut General Statutes.

STATE CREDIT UNION ACTIVITY

Branch Activity

Date

Credit Union

Location

Activity-Branch Type

11/18/16

Nutmeg State Financial

Credit Union, Rocky Hill

971 Farmington Avenue

West Hartford, CT 06107

Approved -

Full Service

CONSUMER CREDIT DIVISION ACTIVITY

Order of Summary Suspension, Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent Not to Renew Consumer Collection Agency License and Notice of Intent to Impose Civil Penalty

On November 10, 2016, the Commissioner issued an Order of Summary Suspension, Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent Not to Renew Consumer Collection Agency License, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Order and Notice”) In the Matter of:

M.A.D. Collection Agency, LLC a/k/a Global Recovery Team d/b/a Goldstein & Dun Associates

(NML# 1414547) (“Respondent”). The Order and Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent, among other things, violated Sections 36a-17(d), 36a-811(a) and 36a-811 of the Connecticut General Statutes, Section 36a-801(a) of the 2016 Supplement to the General Statutes and Section 36a 801(a) of the 2016 Supplement to the General Statutes, as amended by Public Act 16-65, Sections 36a-801(e) and 36a-801(i) of the 2016 Supplement to the General Statutes and Sections 36a-809-9(a) and 36a-809-11(11) of the Regulations of Connecticut State Agencies. The Commissioner found that public safety and welfare imperatively required emergency action to summarily suspend Respondent’s license to acts as a consumer collection agency in Connecticut and to issue a temporary order requiring Respondent to immediately cease and desist from violating the laws cited within the Order and Notice. Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Order and Notice.

Dated: Tuesday, November 29, 2016

Jorge L. Perez
Banking Commissioner