Regulatory Alerts2013-03-22
Added · Updated
Bulletin 2561 - March 22, 2013
The Connecticut Department of Banking publishes branch application filings for Farmington Bank, Rockville Bank, and Union Savings Bank, with public comment periods of 30 days and a 10-day window for written observations. The Department issues enforcement actions against Mohr & Moore, LLC and William Elmer Moore for selling unregistered commodity investment contracts and failing to disclose risks, and against J. Capital Advisors, LLC and Aaron Jousan Johnson for summary suspension due to record examination failures and undisclosed fees. Fines totaling $200,000 are imposed on Stead-Fast Custom Linings, LLC and its principals for offering unregistered securities and fraud, while consent orders require Professional Bureau of Collections and New Milford Mortgage to pay $5,000 and $2,500 penalties respectively for regulatory violations. Additional actions include license revocations and cease and desist orders against consumer collection agencies for failing to maintain surety bonds or operate without licenses, and a temporary cease and desist order against CashCall, Inc. for unlicensed lending and interest rate violations.