Regulatory Alerts2013-11-29
Added · Updated
Bulletin 2597 - November 29, 2013
The Connecticut Department of Banking issued enforcement actions against Commercial Recovery Systems, Inc., Silver Law Center Inc., and three mortgage modification entities for operating without required licenses or violating consumer credit statutes. Commercial Recovery Systems, Inc. faces summary suspension and a cease and desist order for statutory violations. Silver Law Center Inc. was ordered to make restitution to Connecticut residents and cease debt negotiation activities. National Mortgage Modification Stimulus Reserve, Inc., Making Home Affordable, and The Keating Group, Inc. were ordered to cease operations and pay civil penalties of $100,000 and $400,000 respectively for unlicensed debt negotiation.
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