Regulatory Alerts2015-11-27
Added · Updated
Bulletin 2701 - November 27, 2015
The Connecticut Department of Banking approved the opening of a full-service branch by Farmington Bank in East Longmeadow, Massachusetts, and noted the withdrawal of a Darien Rowayton Bank application and the closing of a Northwest Community Bank branch. In enforcement actions, the Commissioner ordered Compliance Audit Group to cease debt negotiation activities and make restitution, while Pullin Law Firm agreed to a consent order requiring $4,000 in restitution and a $2,500 civil penalty. Prospect Mortgage, LLC settled multi-state allegations by paying $2.8 million in restitution and a $7.4 million administrative penalty, including $140,600 to Connecticut. Securities enforcement included the revocation notice for Martinez-Ayme Financial Group, and consent orders imposing fines and suspensions on Southridge Real Estate Partners, John William Rafal, Essex Financial Services, and Cooper Capital for various registration and disclosure violations.