Regulatory Alerts2013-05-31
Added · Updated
Bulletin 2571 - May 31, 2013
The Connecticut Department of Banking entered a consent order with Michael P. Healey and related entities, imposing a ten-year bar on conducting securities business in Connecticut for violations involving unregistered securities sales. The department also finalized consent orders requiring Xpress Loan Center, LLC, Nxtloan.com, Ryan Mortgage, LLC, and Vengroff Williams, Inc. to pay civil penalties of $2,500, $500, $2,500, and $10,000 respectively for failures to file required reports or operate without proper licensing. Additionally, the Commissioner issued cease and desist orders with $100,000 civil penalties against Namakan Capital, LLC and New Life Financial Solutions, Inc. for unlicensed lending and debt negotiation activities, while issuing notices of intent to penalize Charles Thomas Heppner and Receivables Management Solutions Incorporated for similar regulatory violations.