Regulatory Alerts2015-04-03
Added · Updated
Bulletin 2667 - April 3, 2015
East West Bank applied to establish a loan production office in East Berlin, Connecticut. Commercial Services Group paid a $10,000 civil penalty and $1,400 back licensing fee for operating as an unlicensed consumer collection agency. Village Mortgage agreed to retain an independent auditor and compliance officer for three years, implement internal controls for escrow accounts, and pay a $35,000 civil penalty for misusing escrow funds. James E. Neilsen received an order to cease and desist, make restitution, and face fines for fraudulently soliciting $243,000 in investments and failing to pay previous penalties.
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