Regulatory Alerts2021-09-17
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Bulletin 3004 - September 17, 2021
The Connecticut Department of Banking entered into a Consent Order with Navient Solutions, LLC, requiring a $20,000 civil penalty, $5,400 in back licensing fees, and an audit of forbearances on specific student loans due to unlicensed operations and compliance failures. The Department also fined Commonwealth Equity Services, LLC $20,000 and ordered it to cease and desist for failing to supervise agents regarding beneficiary changes for a client with cognitive decline. Written comments on these matters must be directed to the Banking Commissioner within ten business days of the bulletin's date.
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