Regulatory Alerts2023-04-21
Added · Updated
Consent Order Imposing Sanctions on HOVG, LLC d/b/a Bay Area Credit Service
HOVG, LLC d/b/a Bay Area Credit Service must pay a $45,000 civil penalty and cease and desist from violating Connecticut consumer collection agency laws regarding net worth, fund remittance, recordkeeping, and fund commingling. The entity is required to establish and implement compliant policies and procedures within 120 days and submit them for Division approval. For three years, HOVG must conduct semi-annual independent audits of its collections operations and make the reports available to the Department of Banking upon request.
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