Regulatory Alerts2015-12-25
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Bulletin 2705 - December 25, 2015
The Commissioner issued a notice of intent not to disapprove the acquisition by PB Bancorp, Inc. of 100 percent of the voting securities of Putnam Bank, facilitating the bank's reorganization from a mutual holding company to a holding company structure. Additionally, the Commissioner issued a Temporary Order to Cease and Desist and an Order to Make Restitution against Universal Consumer Law Group for engaging in unlicensed debt negotiation. The Respondent was ordered to repay $26,893.99 plus interest to identified Connecticut debtors and to refund fees to any other Connecticut debtor who entered into an agreement on or after October 1, 2009.
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