Regulatory Alerts2012-04-20
Added · Updated
Bulletin 2513 - Apr. 20, 2012
The Commissioner approved Berkshire Hills Bancorp, Inc.'s acquisition of The Connecticut Bank and Trust Company and its subsequent merger into Berkshire Bank. Consent orders were entered against AFC Mortgage Group LLC and GuardHill Financial Corp., each requiring a $2,000 civil penalty for employing unlicensed mortgage loan originators. Global Client Solutions agreed to pay a $150,000 civil penalty and implement compliance procedures for money transmission and debt adjustment activities. E*Trade Securities LLC was ordered to pay a $43,962.04 fine as part of a multi-state settlement regarding auction rate securities and must offer to repurchase affected securities from investors.
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