Regulatory Alerts2015-01-09
Added · Updated
Bulletin 2655 - January 9, 2015
The Connecticut Department of Banking announces branch activity applications for Torrington Savings Bank and Thomaston Savings Bank, including a Notice of Intent Not to Disapprove for a limited branch. The Commissioner entered into Consent Orders requiring Sabrina Rafo to repay fees and Network Capital Funding to pay $175,000 in civil penalties and restitution for licensing and operational violations. An Order to Cease and Desist imposes civil penalties of $700,000 each on Great Plains Lending and John R. Shotton, and $100,000 on Clear Creek Lending for unlicensed lending and interest rate violations. Additionally, a Consent Order requires Mittler & Mercaldo Investment Advisors to pay $5,600 for employing an unregistered investment adviser agent.