Regulatory Alerts2016-07-01
Added · Updated
Bulletin 2732 - July 1, 2016
The Department of Banking announces the closing of a United Bank loan production office in Beverly, MA, with a corrected effective date of July 21, 2016, and solicits public comments on a proposed merger between Cornerstone Community Credit Union and Wallingford Municipal Federal Credit Union. The Commissioner issued a Temporary Order to Cease and Desist and an Order to Make Restitution against American Capital Revitalization Group for unlicensed debt negotiation, requiring the repayment of $2,650 plus interest to affected Connecticut debtors. Additionally, Notices of Intent to Issue Orders to Cease and Desist and Impose Civil Penalties were issued against six mortgage entities for failing to file required annual information on the Nationwide Multistate Licensing System and Registry. A Consent Order was also issued against Mid America Mortgage, Inc., requiring licensure, the provision of required bonds, and the payment of a $10,000 civil penalty for acting as an unlicensed mortgage servicer.