Regulatory Alerts2023-02-17
Added · Updated
Consent Order Regarding Synapse Credit LLC d/b/a Synapse
Synapse Credit LLC must submit audited financial statements for fiscal years ending December 31, 2020, and 2021, to the Connecticut Banking Commissioner no later than January 31, 2023. Failure to meet this deadline or demonstrate compliance with the statutory minimum capital requirement of fifty thousand dollars per licensed location requires Synapse to surrender its small loan lender license on NMLS by February 1, 2023. The order also mandates that Synapse submit annual audited financial statements within ninety days of its fiscal year end and cease failing to submit required documents under Section 36a-563(a) of the Connecticut General Statutes.
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