Bulletin 3100 - July 21, 2023

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3100 - Week Ending July 21, 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.

STATE CREDIT UNION ACTIVITY

Main Office Activity

DATE:
July 19, 2023

CREDIT UNION:
Dutch Point Credit Union, Wethersfield

LOCATION:
FROM: 195 Silas Deane Highway, Wethersfield, CT TO: 1295 Silas Deane Highway, Wethersfield, CT

ACTIVITY-BRANCH TYPE:
Filed to Relocate Main Office

CONSUMER CREDIT DIVISION ACTIVITY

Consent Order

On July 10, 2023, the Commissioner entered into a Consent Order with Celebrity Home Loans, LLC d/b/a eClick Lending (NMLS # 227765) (“Celebrity”), Oakbrook Terrace, Illinois. The Commissioner alleged that: (1) Celebrity failed to file with the Nationwide Multistate Licensing System and Registry a change of its fictitious name 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; and (2) Celebrity failed to maintain a surety bond that runs concurrently with the period of its mortgage lender license for its main office and branch office, in violation of Section 36a-492 of the Connecticut General Statutes. As part of the Consent Order, Celebrity surrendered its mortgage lender license on NMLS and paid $500 as a civil penalty.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Vend Tech International, Inc.

On July 18, 2023, the Banking Commissioner issued a Notice of Intent to Issue Stop Order Denying Effectiveness to a Business Opportunity Postsale Registration, Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing (No. CSF-23-2022-42-B) against Vend Tech International, Inc. of 2475 George Urban Boulevard, Depew, New York 14043. The Respondent is in the business of offering vending machine business opportunities under the brand names “Naturals2GO” and “All4U.”

The action alleged that, commencing in 2014, the Respondent sold unregistered vending machine business opportunities to several Connecticut residents in violation of Sections 36b-62(a) and 36b-67(1) of the Connecticut Business Opportunity Investment Act. Seven years after the first sale, the Respondent filed to register the business opportunity after-the-fact. The action alleged that, while that application was pending, the Respondent made yet another unregistered Connecticut sale which it did not disclose to the agency. Such nondisclosure, as well as the Respondent's failure to disclose business opportunity related sanctions levied against it by the states of Illinois, Washington and Maryland in 2021 and 2022 allegedly violated Section 36b-62(d) of the Act. The action also alleged that the Respondent violated Section 36b-63 of the Act by failing to provide prospective purchaser-investors with a disclosure document meeting the requirements of the Act. In addition, the action alleged that the Respondent used misleading materials in promoting its business opportunity to prospective purchasers in violation of Section 36b-67 of the Act.

Vend Tech International, Inc. was afforded an opportunity to request a hearing on the allegations in the action.

Dated: Tuesday, July 25, 2023

Jorge L. Perez
Banking Commissioner