Regulatory Alerts2023-07-28
Added · Updated
Bulletin 3101 - July 28, 2023
The Connecticut Department of Banking authorized Banking Circle US to commence operations as an uninsured bank and approved a notice of loan production office closing by Eastern Connecticut Savings Bank. Nutmeg State Financial Credit Union received approval to expand its field of membership to include AAA Club Alliance and Community Impact Fund members and employees. The Commissioner entered into consent orders requiring 1st 2nd Mortgage Company to pay a $500 civil penalty and Professional Debt Mediation to pay a $15,400 penalty and back licensing fee for regulatory violations. Additionally, a temporary cease and desist order and notice of intent to impose penalties were issued against Plutus Financial Inc. for unlicensed money transmission, requiring disgorgement of all related fees.