Regulatory Alerts2005-08-12
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News Bulletin 2164 - August 12, 2005
The Connecticut Department of Banking approved Hudson United Bank to relocate a branch in West Hartford, approved The Milford Bank to open a limited branch in New Haven, and approved Commerce Bank, N.A. to establish a de novo branch in Fairfield. The Department also granted approval for People's Bank to sell three branches to Putnam Savings Bank and noted that Paychex, Inc. filed an application for a money transmitter license. Additionally, the Commissioner fined Eddie Papic $40,000 and ordered him to cease and desist for securities violations, while issuing notices of intent to revoke registrations and impose fines against Geek Securities, Inc. and Kautilya Sharma for failing to disclose federal felony convictions.
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