Bulletin 2968 - January 8, 2021

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2968 - Week Ending January 8, 2021

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.

STATE BANK ACTIVITY

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or 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 the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

DATE:
January 6, 2021

BANK:
Ion Bank, Naugatuck

LOCATION:
1751 Ellington Road, South Windsor, CT 06074

ACTIVITY-BRANCH TYPE:
Filed to Establish Full Service Branch

CONSUMER CREDIT DIVISION ACTIVITY

Consent Orders

On December 30, 2020, the Commissioner entered into a Consent Order with Ark-La-Tex Financial Services, LLC d/b/a 11 Mortgage d/b/a Benchmark Mortgage d/b/a Eleven Mortgage (NMLS # 2143) (“ALT”), Plano, Texas. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that ALT failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its branch office at least thirty (30) calendar days prior to such change and, in connection with such address change, failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a-490(b)(2) of the Connecticut General Statutes. As part of the Consent Order, ALT paid $500 as a civil penalty.

On December 28, 2020, the Commissioner entered into a Consent Order with Mountain Run Solutions, LLC f/k/a Perfection Collection, LLC d/b/a Perfection Collection Services d/b/a PCS (NMLS # 1713381) (“Mountain Run”), Orem, Utah. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that, between February 1, 2019 and August 9, 2019, Mountain Run acted as a consumer collection agency in Connecticut without a license, in violation of Section 36a-801(a) of the Connecticut General Statutes. As part of the Consent Order, Mountain Run paid $10,000 as a civil penalty and $500 for back licensing fees.

Dated: Tuesday, January 12, 2021

Jorge L. Perez
Banking Commissioner