CT SB00158

Amends Section 36a-17 to expand the Banking Commissioner's investigative powers, including authority to make public or private investigations, require testimony and written statements under oath, and publish information about violations within the commissioner's jurisdiction.

Allows the Banking Commissioner to issue subpoenas at the request of another state if the activities would constitute a violation under Connecticut law and the other state has reciprocal subpoena authority.

Modifies Section 36a-50 to clarify that persons have "not later than fourteen days after receipt" to request a hearing following a violation notice, changing the previous language from "within fourteen days of receipt."

Grants the Banking Commissioner administrative authority to order restitution and disgorgement of sums obtained in violation of banking statutes, with a fourteen-day period for persons to request a hearing after receiving such orders.

All amendments become effective October 1, 2012.