Regulatory Alerts2014-01-31
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Bulletin 2606 - January 31, 2014
The Connecticut Department of Banking approved the merger of Brand-Rex Employees Credit Union, Inc. into Northeast Family Federal Credit Union. The Commissioner entered into a Consent Order with American Federal Mortgage Corporation requiring a $3,500 civil penalty for employing an unlicensed mortgage loan originator. The Department issued an Order to Cease and Desist and a $100,000 civil penalty against Consumer Relief Programs, Inc. for unlicensed debt negotiation, while issuing temporary cease and desist orders and restitution orders against Asset Managing Group, Inc. and Cohen, Stuart L. for similar licensing violations and illegal fee charges.
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