Regulatory Alerts2012-03-23
Added · Updated
Bulletin 2509 - Mar. 23, 2012
The Connecticut Department of Banking imposes civil penalties of $1,000 on 1st American Home Loans, LLC for employing an unlicensed mortgage loan originator and $5,000 on Acre Mortgage & Financial, Inc. for material misstatements in its license application. The Commissioner issues a Temporary Order to Cease and Desist against Alliance Mitigation Group for unlicensed debt negotiation activities and orders the repayment of fees to Connecticut residents. Notices of Intent to Issue Orders to Cease and Desist and impose civil penalties are issued against Alliance Mitigation Group, Rawlins & Rivera, Inc., and Michael H. Clinton for various securities and consumer credit violations, including unregistered securities offerings and acting as an unlicensed consumer collection agency. A petition for declaratory ruling is also filed by Persels & Associates, LLC regarding attorney exemptions for debt negotiation services.