Regulatory Alerts2024-06-07
Added · Updated
Bulletin 3146 - June 7, 2024
The Connecticut Department of Banking solicits written comments on the Savings Bank of Danbury's application to change its name to Ives Bank and on Fairfield County Bank's notice to consolidate two branches. The Department issued a Temporary Order to Cease and Desist against Aquarion Asset Management, LLC for operating as an unlicensed consumer collection agency and using deceptive debt collection practices. Additionally, a Consent Order requires Bridgecrest Credit Company, LLC to pay $10,000 in civil penalties and $800 in back licensing fees for operating as an unlicensed sales finance company. The Department also issued guidance on Public Act 23-201, establishing a no-action period for certain disclosure requirements until September 30, 2024, while noting that prohibitions on prejudgment remedy waivers and three-day review periods become effective July 1, 2024.