Regulatory Alerts2022-08-19
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Bulletin 3052 - August 19, 2022
The Connecticut Banking Commissioner issued a Temporary Order to Cease and Desist against the Law Offices of David M. Katz, P.C., alleging it operated as an unlicensed consumer collection agency in violation of Connecticut General Statutes Section 36a-801(a). Additionally, a Consent Order was entered with Monterey Financial Services LLC, requiring the payment of a $10,000 civil penalty, $400 in back-licensing fees, and the refund of $17,749.94 plus interest to fourteen Connecticut consumers for lending activities conducted without a required license. Written comments regarding these enforcement actions must be submitted to the Banking Commissioner within ten business days of the bulletin's date.
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