Regulatory Alerts2013-05-03
Added · Updated
Bulletin 2567 - May 3, 2013
The Connecticut Department of Banking approved branch applications for Cole Taylor Mortgage and Savings Bank of Danbury, while entering a consent order against DFS Capital Management, LP and John Vincent Greco that bars them from securities activities for ten years and requires repayment to investors by June 30, 2013. The Department accepted the surrender of Hill Top Collections' license and entered consent orders with Legal Helpers Debt Resolution, The Mortgage Law Group, C.U. Members Mortgage, 1st American Home Loans, Jong Mortgage, and Mortgage Plus for various licensing and reporting violations, imposing civil penalties ranging from $2,500 to $7,500. Additionally, temporary cease and desist orders and restitution requirements were issued against EFA Processing L.P., Consumer Law Associates, LLC, and Namakan Capital, LLC for unlicensed debt negotiation and lending activities.