Regulatory Alerts2022-05-20
Added · Updated
Bulletin 3039 - May 20, 2022
The Connecticut Department of Banking solicits written comments on 1st Financial Bank USA's application to establish a loan production office in Woodbury, Connecticut, with submissions due within ten business days. The Department entered a Consent Order with Loan X Mortgage LLC requiring a $500 civil penalty for failing to update its address and surety bond with the Nationwide Multistate Licensing System and Registry. Additionally, the Department revoked KJM Securities, Inc.'s broker-dealer registration and prohibited re-application until FINRA membership is reinstated, while suspending Joseph Michael Fedorko, Jr.'s agent registration for eighteen months and imposing a $7,500 fine for unregistered advisory activities and unethical trading practices.