Regulatory Alerts2022-07-22
Added · Updated
Bulletin 3048 - July 22, 2022
Dime Bank filed notice to establish a full-service branch in Vernon, CT, with a proposed closing date of October 2022. The Department issued a Consumer and Industry Advisory on Money Transmission to clarify licensure requirements for activities such as virtual currency transmission. Optima Advocates, Inc. and Optima Student Loan Services, LLC entered a Consent Order to resolve allegations of unlicensed debt negotiation and small loan brokering, resulting in $20,000 in civil penalties, back licensing fees, and $61,610.47 in consumer refunds. Pusser’s Holdings Investment LLC, Harbor Cap Partners LLC, and Stuart Jamieson entered a Consent Order regarding the sale of unregistered securities, which mandated five years of retained securities legal counsel and stayed a $10,000 fine for three years due to inability to pay.