The Department of Banking News Bulletin

Bulletin # 3186 - Week Ending March 14, 2025

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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

CONSUMER CREDIT ACTIVITY

PayTomorrow, LLC

On March 13, 2025, the Commissioner entered into a Consent Order (“Consent Order”) with PayTomorrow, LLC (NMLS # 2037230), (“PayTomorrow”), Huntersville, North Carolina. The Consent Order was based on an investigation by the Consumer Credit Division. As result of such investigation, the Commissioner alleged that between April 2016 and the present, PayTomorrow made at least 307 small loans to Connecticut borrowers which exceeded an annual percentage rate of twelve percent, and received payments of principal and interest in connection with such small loans made to Connecticut borrowers, in violation of subdivisions (1) and (4) of Section 36a-556(a) of the Connecticut General Statutes, in effect at such time, respectively. As part of the Consent Order, PayTomorrow paid $10,000 as a civil penalty, $3,200 as back licensing fees, and reimbursed monies in the total amount of $3,996.65 to identified Connecticut borrowers.

Dated: Tuesday, March 18, 2025 

Jorge L. Perez
Banking Commissioner