Regulatory Alerts2018-10-19
Added · Updated
Bulletin 2852 - October 19, 2018
The Connecticut Department of Banking solicits written comments on American Eagle Financial Credit Union, Inc.'s application to open a full-service branch in North Haven, CT, within ten business days of the bulletin date. Additionally, the Commissioner entered into a Consent Order with Alipay US, Inc., requiring the payment of a $10,000 civil penalty and $2,550 in back licensing fees for unlicensed money transmission activities.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 2852 - Week Ending October 19, 2018
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 business days from the date of this bulletin.
CREDIT UNION ACTIVITY
Branch Activity
DATE: October 17, 2018
CREDIT UNION: American Eagle Financial Credit Union, Inc.
LOCATION: 84 Washington Avenue, North Haven, CT 06473
ACTIVITY: Filed to Open Full Service Branch
CONSUMER CREDIT DIVISION ACTIVITY
Consent Order
On October 9, 2018, the Commissioner entered into a Consent Order with Alipay US, Inc. (NMLS # 1277102) (“Alipay”), San Mateo, California. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Alipay engaged in the business of money transmission in this state without a license, in violation of Section 36a-597(a) of the Connecticut General Statutes. As part of the Consent Order, Alipay paid $10,000 as a civil penalty and $2,550 as payment for back licensing fees.
Dated: Tuesday, October 16, 2018
Jorge L. Perez Banking Commissioner