Bulletin 3206 - August 1, 2025

The Department of Banking News Bulletin

Bulletin # 3206 - Week Ending August 1, 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

Name Change

On July 31, 2025, the Commissioner issued an approval for Healthcare Financial Credit Union, New Haven, Connecticut, a Connecticut credit union, to amend its bylaws and certificate of incorporation to change its name pursuant to Sections 36a-437a(h)(3) and 36a-438a(g)((1) of the Connecticut General Statutes, to Unity Financial Credit Union.

CONSUMER CREDIT DIVISION ACTIVITY

Extreme Loans LLC d/b/a Extreme Loans, Ryan Saad Qarana and Zack Jabro

On August 1, 2025, the Commissioner entered into a Consent Order with Extreme Loans LLC d/b/a Extreme Loans (NMLS # 2025962) ("Extreme Loans"), Southfield, Michigan, Ryan Saad Qarana (NMLS # 784280) ("Qarana") and Zack Jabro (NMLS # 784269) ("Jabro") (collectively, "Respondents"). The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Jabro: (1) failed to timely disclose the Order to Pay issued against him by the Federal Deposit Insurance Corporation ("FDIC") on January 12, 2024 on the Regulatory Action disclosure section of his Individual (MU2) Form on the Nationwide Multistate Licensing System and Registry ("NMLS"), in violation of Section 36a-490(c) of the Connecticut General Statutes, and (2) made material misstatements to the Commissioner in connection with the filing of his Individual (MU2) Form on NMLS, in violation of Section 36a 53a of the Connecticut General Statutes. Further, the Commissioner alleged that Qarana: (1) failed to timely disclose the Order of Prohibition from Further Participation and Order to Pay issued against him by the FDIC on January 12, 2024 on the Regulatory Action disclosure section of his Individual (MU2) Form on NMLS, in violation of Section 36a 490(c) of the Connecticut General Statutes, and (2) made material misstatements to the Commissioner in connection with the filing of his Individual (MU2) Form on NMLS, in violation of Section 36a-53a of the Connecticut General Statutes. Qarana anad Jabro were each 50% direct owners and control persons of Extreme Loans at all times relevant to the disclosure of their respective FDIC orders. As part of the Consent Order, Extreme Loans is barred from acting, directly or indirectly, as a mortgage lender, mortgage correspondent lender or mortgage broker in Connecticut for a period of 10 years, and Jabro is barred from acting as a control person, qualified individual or branch manager for any mortgage lender, mortgage correspondent lender or mortgage broker in Connecticut, or from acting as a mortgage loan originator in Connecticut, for a period of 10 years. Lastly, Qarana is permanently barred from acting as a control person, qualified individual or branch manager for any mortgage lender, mortgage correspondent lender or mortgage broker in Connecticut, or from acting as a mortgage loan originator in Connecticut, provided that after a period of 10 years, the Commissioner may, in his sole discretion, lift the bar should Qarana demonstrate the requisite financial responsibility, character and general fitness to participate in such capacity in Connecticut.

Dated: Tuesday, August 5, 2025

Jorge L. Perez
Banking Commissioner