Bulletin 3198 - June 6, 2025

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3198 - Week Ending June 6, 2025

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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

BANK ACTIVITY

New Branch Office

On June 3, 2025,
Bankwell Bank
(New Canaan, CT) submitted an application under Section 36a-145(j) of the Connecticut General Statutes to open a new branch at 557 & 559 86th Street, Brooklyn, New York 11209. The projected date for the branch opening is during the third quarter of 2025. Questions or comments regarding the application can be sent to the Financial Institutions Division at 860 240-8180.

CONSUMER CREDIT DIVISION ACTIVITY

LOVELY’S BOUTIQUE &BEAUTY LLC d/b/a Lovely’s Boutique & Beauty and Nasshon Thompson

On May 28, 2024, The Commissioner issued an
Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the matter of LOVELY’S BOUTIQUE &BEAUTY LLC d/b/a Lovely’s Boutique & Beauty (“Lovely”) and Nasshon Thompson (“Thompson”) (collectively, “Respondents”), Bridgeport, Connecticut. The basis of the Order was that: (1) Lovely failed to hold the proceeds of a sale or delivery of a licensee’s money transmissions in this state in trust for the benefit of such licensee, in violation of Section 36a 607(a)(3) of the Connecticut General Statutes; (2) Lovely failed to remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate, in violation of Section 36a-607(a)(6) of the Connecticut General Statutes; and (3) as the manager and owner of Lovely and the individual responsible for the failure of Lovely to remit funds to the licensee, Thompson was the cause of Lovely’s violation of Sections 36a-607(a)(3) and 36a-607(a)(6) of the Connecticut General Statutes due to acts or omissions Thompson knew or should have known would contribute to such violations pursuant to Section 36a-608(c)(2) of the Connecticut General Statutes. Respondents failed to request a hearing within the prescribed time period and the allegations were deemed admitted. As a result, the Commissioner ordered Lovely to cease and desist from violating Sections 36a-607(a)(3) and 36a-607(a)(6) of the Connecticut General Statutes, ordered Thompson to cease and desist from causing the violation of Sections 36a 607(a)(3) and 36a-607(a)(6) of the Connecticut General Statutes due to an act or omission Thompson knew or should have known would contribute to such violations and imposed a civil penalty in the amount of $100,000 upon each Respondent.

Doc2Doc Lending, Inc.

On June 6, 2025, the Commissioner entered into a Consent Order (“Consent Order”) with Doc2Doc Lending, Inc.
(NMLS # 2652023), (“Doc2Doc”), Atlanta, Georgia. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that from October 2023 to January 2025, Doc2Doc offered, solicited, brokered, directly or indirectly arranged, placed or found and advertised 21 small loans made by DR Bank to prospective Connecticut borrowers without first obtaining a small loan company license, in violation of Section 36a-556(a) of the Connecticut General Statutes, effective October 1, 2023. As part of the Consent Order, Doc2Doc paid $10,000 as a civil penalty and $400 as back licensing fees.

Dated: Tuesday, June 10, 2025

Jorge L. Perez
Banking Commissioner