Regulatory Alerts2017-01-06
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Bulletin 2759 - January 6, 2017
The Connecticut Department of Banking approved Newtown Savings Bank's reorganization into a mutual holding company and its conversion to a stock savings institution, while also approving the formation of NSB Holdings, Inc. The Department received an application to organize TNB as an uninsured bank in Norwalk. Additionally, the Commissioner refused to renew the mortgage lender license of Approved Funding Corp., ordered it to cease and desist, and imposed a $7,500 civil penalty for failing to file required information. Cantor Fitzgerald & Co. agreed to pay $2,100 to resolve allegations of employing unregistered agents.
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