Regulatory Alerts2025-12-05
Added · Updated
Consent Order Imposing Sanctions on Castle Credit and Great American Finance
The Connecticut Banking Commissioner imposes sanctions on Castle Credit and Great American Finance for operating without required licenses, failing to cooperate with examinations, and attempting to improperly transfer licenses. The Respondents must jointly pay a $20,000 civil penalty and Great American Finance must pay $3,200 in back licensing fees. Additionally, Great American Finance is required to reimburse Connecticut borrowers for amounts paid in excess of a 12% annual percentage rate while unlicensed. Both entities must cease the prohibited activities and respond to information requests within five business days.