Regulatory Alerts2023-09-29
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Bulletin 3110 - September 29, 2023
The Connecticut Department of Banking approved Nutmeg State Financial Credit Union's amendment to expand its field of membership to include AAA Club Alliance members and employees, effective October 1, 2023. The Commissioner issued enforcement actions against Animo Mortgage Company LLC for failing to maintain a required surety bond, resulting in an automatic license suspension and a temporary cease and desist order. Additionally, a consent order was entered with Ironhorse Funding LLC, requiring the payment of a $10,000 civil penalty, $400 in back licensing fees, and reimbursement to borrowers for violations involving excessive interest rates and unlicensed lending.
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