Regulatory Alerts2013-07-26
Added · Updated
Bulletin 2579 - July 26, 2013
The Connecticut Department of Banking approved Rockville Bank's branch applications and the merger of The Bank of Fairfield into The Bank of New Canaan, resulting in Bankwell Bank. The Commissioner issued orders requiring Debt Settlement Solutions, Inc., Nationwide Debt Services, LLC, Independence Law Group, Inc., Alarcon Law Group, P.C., and others to cease unlicensed debt negotiation activities and make restitution to Connecticut residents. Thomson Mortgage Services, LLC paid a $2,500 civil penalty for failing to file required mortgage call reports. Additionally, DFS Capital Management, LP was ordered to pay $100,000 in fines and $314,000 in restitution for failing to meet prior repayment obligations, while Fundraising Co-Op, Inc., Buyer Topia, Inc., and Stephen Goodrich faced cease and desist orders and notices of intent to fine for securities and business opportunity violations.