Regulatory Alerts2011-11-18
Added · Updated
Bulletin 2491 - Nov. 18, 2011
The Connecticut Department of Banking approved a check cashing service license for Tienda Ecuador LLC in Danbury. The Commissioner entered into consent orders with New England Modifications LLC and James J. D’Amato, barring them from acting as directors or officers of regulated entities for ten years due to unlicensed debt negotiation. Tempo Financial U.S. Corporation, The Cobblestone Group LLC, Neighborhood Assistance Corporation of America, CreditAnswers LLC, and CreditArbitrators LLC were ordered to pay civil penalties ranging from $3,000 to $10,000 for violations including failure to update license information, unlicensed mortgage brokering, and unlicensed debt negotiation. The Department also issued an order against The Klosk Law Group Inc., requiring a $20,000 civil penalty and $7,712.73 in fee repayments for unlicensed debt negotiation and non-compliant fee collection.