Bulletin 3088 - April 28, 2023

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3088 - Week Ending April 28, 2023

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.

BANK ACTIVITY

Section 36a-145 of the Connecticut General Statutes requires that 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 may be submitted when such applications are filed and any plans that are filed will be made 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 at (860) 240-8180.

DATE:
April 27, 2023

BANK:
Thomaston Savings Bank, Thomaston

LOCATION:
233 Main Street, New Britain, CT 06051

ACTIVITY-BRANCH TYPE:
Filed to Establish Full-Service Branch

PROPOSED OPENING DATE:
September 30, 2023

CONSUMER CREDIT ACTIVITY

Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On April 18, 2023, the Commissioner issued a
Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Order and Notice”) in the Matter of:
REI Holdings, LLC d/b/a Neff Companies, LLC d/b/a REI Holdings (NMLS # 1897917) (“Respondent”), Lehi, Utah. The Order and Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent’s acting within this state as a consumer collection agency without a consumer collection agency license constitutes violations of Section 36a-801(a) of the Connecticut General Statutes in effect at such time. The Commissioner found that the public welfare required the issuance of a Temporary Order to Cease and Desist against Respondent. As part of the Order to Make Restitution, Respondent was ordered to repay any sums obtained as a result of Respondent violating Section 36a-801(a) of the Connecticut General Statutes, plus interest. Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order and Notice.

Order to Make Restitution, Order to Provide Disgorgement, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On April 20, 2023, the Commissioner issued an
Order to Make Restitution, Order to Provide Disgorgement, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Order and Notice”) in the Matter of:
SandP Solutions, LLC d/b/a Bitcoin of America
(NMLS # 1791842) (“Respondent”), Lisle, Illinois. The Order and Notice was the result of an investigation by the Consumer Credit Division. The Commissioner alleges that Respondent’s engagement in third party transmission activities through its operation of Virtual Currency Kiosks without a money transmission license constitutes a violation of Section 36a-597(a) of the Connecticut General Statutes in effect at such time. As part of the Order to Make Restitution, Respondent was ordered to repay any sums obtained as a result of Respondent violating Section 36a-597(a) of the Connecticut General Statutes. Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order and Notice.

Dated: Tuesday, May 2, 2023

Jorge L. Perez
Banking Commissioner