Conn. (WFSB) – Connecticut’s top banking regulator is accused of bullying, intimidation, and falling asleep on the job
The I-Team found a pattern of complaints against Banking Commissioner Jorge Perez, and questions about what’s being done to address them.
The Commissioner tells the I-Team; he denies the accusations and says a medical condition makes it look like he’s sleeping.
The Department of Banking exists to protect your money, regulating and enforcing all financial companies that operate in Connecticut. They make sure companies follow the rules and provide compensation when needed.
But employees for the Department of Banking tell the I-Team; that mission is at risk. They say Banking Commissioner Jorge Perez is “leading the organization with fear and intimidation,” among other complaints.
Employees say it’s getting harder every day to do their jobs. The Commissioner says he’s being respectful, and his “management style is focused on accountability.”
“Everybody’s afraid,” said one employee whom we’ll refer to as Employee One.
“I’ve seen him speak very aggressively to employees. I know of employees that have come back in tears from speaking with him directly,” says another, referred to as Employee Two.
Both have asked us to hide their identities, fearing they’ll lose their jobs for speaking out. They are just two of ten current and former employees who have talked on-and-off camera with the I-Team over months about current Banking Commissioner Jorge Perez.
Commissioner Perez was appointed in 2015 by Governor Dannel Malloy, then re-appointed by Governor Ned Lamont in 2019. “I’ve been with the department over 20 years. This is my third commissioner,” says Employee One. “It’s very toxic. We have the worst morale ever.”
Since 2024, the I-Team found eight different employees filed complaints with the Department of Administrative Services, which handles human resources for the Department of Banking. We obtained those complaints through a records request.
The complaints document behavior going back years, across different employees and different divisions within the Department of Banking.
Nearly every complaint details a fear of retaliation for speaking up.
“He’s very forceful in his ways, not open to other thoughts or opinions,” says Employee Two. “As a result, a lot of decision and work product is done to avoid upsetting the commissioner as opposed to necessarily doing what might be the right thing.” Many of the complaints reference humiliation. Employees say Commissioner Perez has threatened to fire people, insulted employees in front of their colleagues, and berated staff in public settings. Several complaints also describe his behavior as “hostile.” One complaint describes him as a “huge operational risk, his dislike of people shows, and he shows hatred to some individuals.”
“I’ve seen tears from the bullying behavior,” says Employee One. “He has told people, be quiet or shut your mouth or I’m going to fire you.” But the complaints don’t stop at bullying. Sleeping on the job came up in several complaints, and in many conversations I had with employees.
Employees shared pictures with the I-Team of the Commissioner, which appear to show Perez sleeping; his head slumped over, eyes closed.
One 2025 complaint says Commissioner Perez “often appears disinterested in meetings and falls asleep in meetings,” including meetings with outside financial institutions.
Another describes a pattern over the years, saying he “fell asleep at a conference no less than 4 times, once during a session seated next to a guest presenter. It’s a well-known thing in the agency, as well as other states.”
We asked Commissioner Perez multiple times for an on-camera interview. He declined.
But he tells the I-Team in a written statement “what appears to be sleeping is not the case,” saying he has a medical condition the state is aware of, and accommodating. We asked about the other complaints.
Commissioner Perez went on to say in part, “I do not agree with the characterization of my leadership reflected in those allegations. My management style is direct and focused on accountability … To the best of my recollection, I have always treated members of my management team with professionalism and respect, even when addressing difficult issues or performance expectations.” (Full Statement is below).
The behavior employees describe doesn’t stay behind closed doors. Several mentioned his “inappropriate, unprofessional and embarrassing” conduct with an Accreditation team that visited two years ago.
One complaint specifically noted that Bank and Credit Union CEOs “have commented on the lack of professionalism and comments the Commissioner has made,” with the employee writing, “I feel that we have lost respect in the industry. I had people saying that the Commissioner is single handedly destroying the agency.”
Employee One says if he continues to be Commissioner, “We’ve lost managers, attorneys, an assistant director. All people that were huge assets to the department.”
D-AS tells me since January 2022, 8 people resigned. 20 retired. Two tell me they retired early because of the Commissioner. Three others transferred to other state agencies. That’s a 6% annual turnover, although that is less than the statewide average of 13%. “I think at some point we run the risk of not being able to fulfill our responsibility and complete our duties to the taxpayers,” says Employee Two. Despite this, the employee says they are able to accomplish things. “We are. I think there’s other good employees and good staff members, but we’re losing them quickly because of the culture.”
Several employees say that culture extends to HR, who they feel aren’t listening. HR forms show that despite some complaints mentioning bullying and hostile behavior, HR did not check a box saying the behavior violates anti-harassment and discrimination policy. (The policy is attached below).
One complaint shows an employee mentioned the workplace violence and antiharassment policies to HR, saying their “experiences at the Department of Banking comes with an intimidating presence from Commissioner Perez. As a union P5 member, they made it clear that they are entitled to a safe working environment.”
Violations of the Department of Banking Violence in the Workplace Policy is under the purview of Labor Relations. Records given by DAS do not show if the complaints were ever referred to Labor Relations. (That policy is listed below as well).
Employees have never gotten an update from HR, but DAS told the I-Team, Commissioner Perez received a “verbal warning, which was followed by continued coaching and counseling,” based on the 8 complaints filed against him.
Commissioner Perez himself said in an email, HR informed him of only three complaints, which “generally relate to the tone of my voice when communicating with employees.” He says, “at no time was he told he violated policy or faced disciplinary action.”
Employees I spoke with want the governor involved, now. He’s the one who has authority over the Commissioner.
One Commissioner even wrote to the Governor’s Office on November 20th of last year, cc’ing them on an email to HR, detailing complaints about “bullying, verbal assaults, mismanagement.” That employee says they never heard back. We went to the Governor ourselves, telling him about the complaints employees shared with the I-Team, and their request for the Governor to do an independent review.
Governor Lamont says, “I’ve heard some of that, and if the Commissioner has to work on his relationships with some of the employees there, he’s doing that. He’s had some counseling, got some feedback, and we’re talking to the employees there all the time to make sure it’s a work environment where everybody wants to be there and feel good about the work they’re doing.”
The I-Team told Governor Lamont in response, that employees say the behavior is still continuing despite the counseling, and asked again if the Governor’s Office will do a review.
Governor Lamont said, ‘’we have an ongoing review to make sure things are working well there at the Banking Department.” When asked what he wants to say to the employees, he said, “we’re listening to you.”
Employees say they want more than listening. “I think the culture has to change and it has to start at the top,” says Employee Two. Employee One added, “something should be done.”
FULL STATEMENT from Commissioner Jorge Perez:
“It is unfortunate that concerns raised by members of my management team have become the subject of a media report. While I respect every employee’s right to raise concerns through the appropriate channels, I do not agree with the characterization of my leadership reflected in those allegations.” (I-Team note: to be clear, the complaints reference employees from all levels in the Department).
“From my first day as Commissioner, my priority has been to protect Connecticut residents by ensuring compliance with our banking laws while fostering a professional and respectful workplace. My management style is direct and focused on accountability because the work of the Department has significant impact on consumers and the financial institutions we regulate. To the best of my recollection, I have always treated members of my management team with professionalism and respect, even when addressing difficult issues or performance expectations. The complaints raised in this report have been reviewed or investigated by established human resources processes. I do not direct those reviews or determine their findings or outcomes.”
“I welcome constructive feedback and I’m always willing to improve my communication and leadership skills. When practical and appropriate, I’m committed to implement suggestions that help strengthen our workplace. At the same time, accountability is essential part of public service, and I believe every member of the Department’s team has a responsibility to perform the duties entrusted to them.”
“I also want to emphasize that the Department is made up of an outstanding team of examiners, attorneys, analysts, and support staff who work diligently every day on behalf of Connecticut residents. Their professionalism and dedication should not be overshadowed by the allegations of a small number of individuals.”
“Over the past ten years, the Department has delivered measurable results for Connecticut consumers. Through enforcement actions, restitution, reimbursements, and rescission offers, the Department has secured more than $138 million on behalf of Consumers. Strong and consistent regulatory enforcement has also resulted in more than $163 million in penalties and sanctions. At the same time, Connecticut has become a recognized leader in attracting financial technology companies promoting innovation while creating jobs and supporting economic growth.”
“I remain committed to leading the Department with integrity, professionalism, accountability and a steadfast focus on serving the people of Connecticut.”
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