Regulatory Alerts2020-01-17
Added · Updated
Bulletin 2917 - January 17, 2020
The Connecticut Department of Banking solicits public comments on a proposed federal overhaul of Community Reinvestment Act regulations, requiring submissions to the state Banking Commissioner by February 19, 2020. The bulletin announces Ion Bank's application to establish a full-service branch in Unionville and New Haven County Credit Union's relocation of its main office. Additionally, the Commissioner entered into a Consent Order with Bay-Valley Mortgage Group, terminating an automatic suspension and imposing a $2,500 civil penalty for failing to designate a qualified branch manager. Finally, the Commissioner issued Findings of Fact and Orders against Smart Marketing Corp., Smart Family Group LLC, and Rency Mejia, ordering them to cease and desist from unlicensed debt negotiation activities and imposing civil penalties totaling $400,000 along with $2,700 in restitution.