Regulatory Alerts2025-01-17
Added · Updated
Bulletin 3178 - January 17, 2025
The Connecticut Department of Banking approved an acquisition statement for GSB Mutual Holding Company and The Guilford Savings Bank to merge with and acquire Eastern Connecticut Savings Bank, targeting completion in the second quarter of 2025. The Commissioner entered into a Consent Order with Cherry Technologies Inc., requiring a $10,400 payment for unlicensed small loan activities. Additionally, a Consent Order was issued against IRWT, LLC and Russell D. Davis, imposing a $10,000 fine for misleading statements regarding financial holdings in a crypto-consultancy context. Finally, a Notice of Intent to Issue a Stop Order was filed against Anchored Tiny Homes Franchising LLC for failing to maintain adequate financial arrangements and renew its business opportunity registration.