Bulletin 2788 - July 28, 2017

State of Connecticut
Department of Banking

The Department of Banking News Bulletin Bulletin # 2788

Week Ending July 28, 2017

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

Consent Order

On July 26, 2017, the Commissioner entered into a Consent Order with James Farrell (“Farrell”). The Consent Order was based on an investigation by the Financial Institutions Division. As a result of such investigation, the Commissioner alleged that Farrell violated Sections 36a-53a, 36a-54 and 36a-454b(f) of the Connecticut General Statutes and engaged in conduct that would form the basis for removing him from office pursuant to Sections 36a-53(b)(1)(C) and 36a-53(b)(1)(E) of the Connecticut General Statutes. As part of the Consent Order, Farrell may not hold any position as a director, officer, employee or independent contractor with any bank, Connecticut credit union or federal credit union or with a holding company that holds a subsidiary that is a bank, or as a licensee or registrant under Title 36a or 36b of the Connecticut General Statutes, without the consent of the Commissioner, and must pay $10,000 as a civil penalty.

Dated: Tuesday, August 1, 2017 Jorge L. Perez Banking Commissioner