Regulatory Alerts2014-12-05
Added · Updated
Bulletin 2650 - December 5, 2014
The Connecticut Banking Commissioner sets the 2015 deposit index at 0.08%, establishing minimum interest rates for rental security deposits, state-held claims, mortgage escrow accounts, and customer security deposits. The bulletin announces pending regulatory actions, including a merger application for UPS Capital Business Credit, loan production office filings by Manufacturers and Traders Trust Company and UBS Bank USA, and the closure of offices by Sentinel Trust Company and Royal Bank of Scotland. Additionally, the Commissioner entered into consent orders with Polaris Funding Group and Torrington Payment Center for regulatory violations, and issued a consent order barring Michael James Byl from securities activities until he satisfies a FINRA arbitration award.