Bulletin 3095 - June 16, 2023

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3095 - Week Ending June 16, 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.

CREDIT UNION ACTIVITY

Merger

On June 13, 2023, the Commissioner approved the merger of Western Connecticut Federal Credit Union , a federal credit union, with and into SoundView Financial Credit Union , a Connecticut credit union, pursuant to Section 36a-468a of the Connecticut General Statutes. The proposed effective date of the merger is July 1, 2023.

CONSUMER CREDIT ACTIVITY

Consent Order

On June 7, 2023, the Commissioner entered into a Consent Order with MSIM, LLC (NMLS # 2121192) (“MSIM”), Austin, Texas. The Commissioner alleged that MSIM failed to file with the Nationwide Multistate Licensing System and Registry a change of the address of its main office at least thirty (30) calendar days prior to such change and 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, MSIM paid $500 as a civil penalty.

Consent Order

On June 13, 2023, the Commissioner entered into a Consent Order with Mortgages, Inc.
(NMLS # 1726) (“Mortgages”), Needham, Massachusetts. The Commissioner alleged that Mortgages failed to file with the Nationwide Multistate Licensing System and Registry a change of the address of its main office at least thirty (30) calendar days prior to such change and 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, Mortgages paid $500 as a civil penalty.

Dated: Tuesday, June 20, 2023

Jorge L. Perez
Banking Commissioner