Regulatory Alerts2010-12-31
Added · Updated
News Bulletin 2445 - December 31, 2010
The Commissioner approved the conversion of Rockville Financial MHC, Inc. to a capital stock holding company and authorized its acquisition of Rockville Bank. The Department also issued notices of intent not to disapprove branch applications for Newtown Savings Bank and Farmington Bank, and approved SI Financial Group's acquisition of Savings Institute Bank and Trust Company. Enforcement actions included a $2,000 civil penalty against Independent Mortgage Company, Inc. for unlicensed mortgage loan originators, and automatic license suspensions with cease and desist orders against Hawthorne Capital Corp and LendXFinancial LLC for surety bond violations. Additionally, Wells Fargo Investments, LLC was fined $6,501.09 and ordered to cease and desist for failing to supervise agents marketing auction rate securities.