Regulatory Alerts2022-11-11
Added · Updated
Amended and Restated Temporary Order to Cease and Desist and Order to Make Restitution against Commonwealth Servicing Group, LLC and Lendah LLC
An Amended and Restated Temporary Order to Cease and Desist and an Order to Make Restitution, along with notices of intent to issue permanent orders and civil penalties, apply to Commonwealth Servicing Group, LLC and Lendah LLC. Commonwealth Servicing is ordered to immediately cease unlicensed debt negotiation in violation of Section 36a-671(b) of the Connecticut General Statutes and to repay fees, plus interest, to Connecticut debtors within 30 days of the restitution order becoming permanent. Lendah must immediately cease unlicensed debt negotiation and deceptive practices in violation of Sections 36a-671(b) and 36a-671f(8), and provide specific contracts and a list of Connecticut consumers and associated fees within 14 days of receiving the March 7, 2022 Notice. Both entities face potential civil penalties up to $100,000 per violation and have a right to a hearing.