Regulatory Alerts2015-12-04
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Bulletin 2702 - December 4, 2015
The Connecticut Department of Banking sets the 2016 deposit index at 0.08%, establishing minimum interest rates for rental security deposits, state claims, and mortgage escrow accounts. The Commissioner approved a field of membership amendment for Connex Credit Union, Inc. to include residents and businesses in Fairfield County. Enforcement actions include an order revoking MCM Holdings, Inc.'s mortgage lender license and consent orders requiring Pierpoint Mortgage, LLC to pay a $500 civil penalty and Vanderbilt Mortgage and Finance, Inc. to pay $35,350 in penalties and back fees. Additionally, a permanent cease and desist order and a $300,000 fine were imposed on James E. Neilsen for securities violations.
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