Regulatory Alerts2025-06-13
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Bulletin 3199 - June 13, 2025
The Banking Commissioner approved Essex Savings Bank's name change to Essex Bank. A Consent Order was entered with United Capital Services Corporation, requiring a $2,500 civil penalty and $1,200 in back licensing fees for operating as an unlicensed sales finance company. The Commissioner also issued a Consent Order against The Cheetah Fund LP, C.M. Allen Capital Management, Inc., and Craig Murfee Allen, barring Allen from securities business and staying a $100,000 fine due to financial inability to pay.
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