Regulatory Alerts2023-01-06
Added · Updated
Bulletin 3072 - January 6, 2023
The Connecticut Department of Banking entered into consent orders with Foundation Finance Company LLC, True Life Solutions, Inc., and Yes Online Inc. regarding violations of the Consumer Credit Act. Foundation Finance Company LLC paid a $10,000 civil penalty and $400 in back licensing fees for operating from an unlicensed location. True Life Solutions refunded fees to Connecticut residents and paid a $2,500 civil penalty plus $3,200 in back licensing fees for unlicensed debt negotiation services. Yes Online Inc. paid a $10,000 civil penalty and is barred from acting as a consumer collection agency in Connecticut for five years after vacating a prior license revocation order.
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