Regulatory Alerts2023-07-07
Added · Updated
Bulletin 3098 - July 7, 2023
The Commissioner approved the acquisition of Salisbury Bancorp, Inc. by NBT Bancorp, Inc., and the subsequent merger of Salisbury Bank and Trust Company into NBT Bank, National Association. A Consent Order required Mercantile CT, LLC and Mercantile Adjustment Bureau, LLC to pay a $30,000 civil penalty, surrender their consumer collection license, and cease consumer debt collection activities in Connecticut for three years. The Commissioner revoked and refused to renew the mortgage broker license of L.A. Mortgage One LLC for failing to maintain a required surety bond. Additionally, broker-dealer registration for NYPPEX, LLC and its managing member Laurence Geoffrey Allen was denied effective July 5, 2023, due to admitted allegations of fraud and prior disciplinary actions.