Regulatory Alerts2013-01-04
Added · Updated
Bulletin 2550 - January 4, 2013
The Connecticut Department of Banking entered into consent orders requiring M & G Mortgage Services Inc. and John Grad to pay a $20,000 civil penalty and cease specific licensing violations, while A & S Collection Associates Inc. must pay a $5,000 penalty, refund illegal fees, and withdraw credit reporting data. Sound Mortgage, LLC was ordered to file delinquent reports and pay a $2,500 penalty for failing to submit required mortgage call reports. Additionally, the Commissioner issued Orders to Cease and Desist and Notices of Intent to Fine against Maxcomusa Group Inc. and Christos Christoforou for selling unregistered securities and acting as unregistered broker-dealers, and against First Financial LLC and Feisal Sharif for offering unregistered securities and violating antifraud provisions.