Regulatory Alerts2024-11-29
Added · Updated
Bulletin 3171 - November 29, 2024
The Connecticut Department of Banking solicits public comments on a proposed merger between America’s First Network Credit Union and Connecticut State Prison Employees Federal Credit Union, with a target completion date of April 1, 2025. The Commissioner entered into consent orders with Nationwide Credit and Collection Inc. and P. J. Collections Inc., requiring $12,000 in penalties and fees for unlicensed collection activities and fund transfer violations. Additionally, Plutus Financial, Inc. and related entities agreed to return virtual assets to Connecticut customers and barred William John Barhydt from money transmission roles for five years due to unlicensed money transmission activities. The Department also imposed a $100,000 civil penalty and cease-and-desist order on Alliance for operating as an unlicensed consumer collection agency and using deceptive debt collection practices.