Regulatory Alerts2017-07-21
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Bulletin 2787 - July 21, 2017
The Connecticut Department of Banking approves the full-service branch relocation of Savings Institute Bank & Trust Company and the establishment of a full-service branch for United Bank. Additionally, the Commissioner entered into a Consent Order with American Bancshares Mortgage, LLC, requiring a $500 civil penalty for failure to file a change of address and update its surety bond. The Department also finalized a Stipulation and Agreement with Sovereign State Depository, Inc. and its CEO, Walter B. Reddy, III, imposing a $500 fine and a three-year requirement to retain a securities attorney following violations of the Connecticut Uniform Securities Act.
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