Regulatory Alerts2013-12-06
Added · Updated
Bulletin 2598 - December 6, 2013
The Connecticut Department of Banking sets the interest rate for rental security deposits, mortgage escrow accounts, and claims delivered to the State Treasurer at 0.09% for calendar year 2014, while public service and telecommunications customer security deposits remain at 1.5%. The Commissioner entered a Consent Order with James C. Driscoll, III, prohibiting him from holding any position with regulated financial institutions without consent following allegations of unsafe practices and negligence. A Notice of Intent to Remove from Office and impose a civil penalty was issued against Yolanda O’Keefe for engaging in unsafe practices at a credit union. Additionally, the Department revoked the license of American Collection Systems, Inc. for failing to maintain a required surety bond, barred Christian Meissenn from securities activities for ten years and ordered $14,000 in restitution, and fined Damian Seth Delgado $50,000 for aiding in fraudulent conduct.