Bulletin 3203 - July 11, 2025

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3203 - Week Ending July 11, 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.

CREDIT UNION ACTIVITY

Conversion

On July 5, 2025, the Commissioner approved the conversion of Cornerstone Community Credit Union from a Connecticut credit union to a federal credit union pursuant to Section 36a-468b of the Connecticut General Statutes. The anticipated target period for the conversion is for the third quarter of 2025.

CONSUMER CREDIT DIVISION ACTIVITY

Parking Revenue Recovery Service, Inc. a/k/a Parking Revenue Recovery Services, Inc.

On July 1, 2025, 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 Parking Revenue Recovery Service, Inc. a/k/a Parking Revenue Recovery Services, Inc. (NMLS # 2503672), (“Respondent”), Aurora, Colorado. The Notice was the result of an investigation by the Consumer Credit Division.

The Commissioner alleges in the Order and Notice that Respondent: (1) acted within this state as a consumer collection agency without a consumer collection agency license in violation of Section 36a 801(a) of the Connecticut General Statutes and (2) charged at least one Connecticut debtor a collection fee in excess of 15% of the amount collected in violation of Section 36a-805(a)(12) of the Connecticut General Statutes.

The Commissioner found that the public welfare required immediate action to issue a Temporary Order to Cease and Desist against Respondent. Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order and Notice.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

SWCD LLC a/k/a Campfire Capital (CRD No. 168457)

On July 7, 2025, the Banking Commissioner entered a Consent Order (No. NR-25-15-S) with respect to SWCD LLC of 81 Campfire Road, Chappaqua, New York 10514. The firm, which operates under the trade or assumed name Campfire Capital , has been registered as a broker-dealer in Connecticut since January 30, 2015. The Consent Order had been preceded by a May 15, 2025 Notice of Intent to Revoke Registration as a Broker-dealer and Notice of Right to Hearing (No. NR-25-15-S) alleging that the firm violated Section 36b-31-6a(a) of the Regulations under the Connecticut Uniform Securities Act by failing to register at least one broker-dealer agent. The action also alleged that the firm was not responsive to the agency's attempts to remedy the problem.

The Consent Order directed the firm to refrain from regulatory violations and fined the firm $2,500. The firm has since effected an agent registration to comply with the law.

Dated: Tuesday, July 15, 2025

Jorge L. Perez
Banking Commissioner