Bulletin # 2734 - Week Ending July 15, 2016

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications.  Any observations you may have are solicited.  Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten days from the date of this bulletin.

CONSUMER CREDIT DIVISION ACTIVITY

Findings of Fact, Conclusions of Law and Order

On July 6, 2016, the Commissioner issued Findings of Fact, Conclusions of Law and Order (“Order”) in the Matter of:  Preferred Law, PLLC (“Preferred Law”), Salt Lake City, Utah.  The Order was the result of an investigation by the Consumer Credit Division and an administrative hearing on the matters alleged in a Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice to Right of Hearing against Preferred Law on December 2, 2014.  The Commissioner found that Preferred Law engaged in debt negotiation in Connecticut without the requisite license, in violation of Section 36a-671(b) of the Connecticut General Statutes.  Preferred Law was ordered to cease and desist from violating Section 36a 671(b) of the Connecticut General Statutes and to pay a civil penalty in the amount of $25,000.  In addition, the Order of Restitution issued against Preferred Law on December 2, 2014, remains in effect and became permanent.