Regulatory Alerts2014-05-16
Added · Updated
Bulletin 2621 - May 16, 2014
The Connecticut Department of Banking solicits written comments on applications for the merger of Riverside Bank into Salisbury Bank and for a business and industrial development corporation license for Business Lenders, LLC, within ten days. The Commissioner imposed a $100,000 civil penalty and cease-and-desist order on Daniel Charles Allegrini for unlicensed debt negotiation and mortgage loan origination. Notices of intent to issue cease-and-desist orders and impose penalties were issued against Sound Mortgage, LLC, Woodbridge Mortgage LLC, and P&C Capital Group LLC for various licensing violations. Condor Capital Corp.'s sales finance company license was summarily suspended due to federal litigation, while a consent order required Conn & Conn Mortgage Company to cease unlicensed activities, repay excess charges, and pay a $10,000 penalty.