The Connecticut Department of Banking issued an order against a California-based collection agency for failing to request a hearing within the prescribed time period after a notice regarding submission of certain information was sent.
All California Financing Law licensees are required to submit their annual reports by March 15, even if the licensee had no business activity during the 2021 calendar year.
The enforcement action targeted a mortgage education scheme offered by a California-based company that provided false certificates claiming that MLOs took continuing education courses as required for licensure.