Regulatory Alerts2013-11-01
Added · Updated
Bulletin 2593 - November 1, 2013
Manufacturers and Traders Trust Company is approved to open a loan production office at 501 Merritt 7 in Norwalk, Connecticut. The Commissioner issued notices of intent to impose civil penalties and cease and desist orders against National Mortgage Modification Stimulus Reserve, Inc., Making Home Affordable USA, and The Keating Group, Inc. for engaging in unlicensed debt negotiation, requiring restitution to affected Connecticut residents. Additionally, American Collection Systems, Inc. faces license revocation proceedings for failing to maintain a required surety bond, while EFA Processing L.P. and American Lending Solutions, LLC entered into consent orders agreeing to pay $175,000 and $2,500 in civil penalties, respectively, for licensing and reporting violations.