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Uninsured Bank Proposal Gets Temporary Certificate Of Authority

By The Commercial Record | September 18, 2017 | Reprints | Unlock Link | Print

The Connecticut Department of Banking recently issued a temporary certificate of authority to the founders of TNB USA Inc. to complete the organization of an uninsured bank in Norwalk.

A temporary certificate of authority is valid for 18 months.

The approving authority may, upon the application of the organizers, before the termination of the 18-month period and after a hearing, extend the period for which the temporary certificate of authority is valid.

James McAndrews, Eugene Park and James Calcagno filed an application to organize TNB, with a main office at 25 Marshall St., Suite 2D, in Norwalk, Connecticut, as an uninsured bank pursuant to Section 36a-70 of the Connecticut General Statutes, on Jan. 3, 2017.