The Department of Banking News Bulletin
Bulletin # 2986 - Week Ending May 14, 2021
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 business days from the date of this bulletin.
CONSUMER CREDIT DIVISION ACTIVITY
Order to Cease and Desist and Order Imposing Civil Penalty
On April 29, 2021, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) in the Matter of: Students Loan Services LLC (“Respondent”). The basis of the Order was that Respondent’s engaging or offering to engage in debt negotiation in this state without obtaining the required license constitutes at least one violation of Section 36a 671(b) of the Connecticut General Statutes, in effect at such time. The Commissioner ordered Respondent to cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes, and imposed a civil penalty in the amount of $100,000 upon Respondent. In addition, the Order to Make Restitution issued against Respondent on February 24, 2021, remains in effect and became permanent on March 13, 2021.
Dated: Tuesday, May 18, 2021
Jorge L. Perez
Banking Commissioner