Home Banking & Finance CT Department of Banking recovered nearly $4M in 2016

CT Department of Banking recovered nearly $4M in 2016

The Connecticut Department of Banking announced that it recovered $3.8 million in restitution for consumers and investors during 2016.

Jorge Perez

According to the department, its largest case last year originated in its Consumer Affairs Division with a consumer complaint about National Credit Adjustors. As a result of the department’s investigation, the company provided $1.3 million in compensation to more than 1,200 impacted consumers. Since 2011, the department has recovered more than $67 million on behalf of Connecticut consumers.

“Consumer and investor protection is the number one priority at the Department of Banking,” said Banking Commissioner Jorge Perez. “Effective examination and enforcement of our regulated entities is the key to ensuring that any improper conduct by a business or individual is carefully pursued to the extent our laws allow. I am very proud of the hard work by my staff that resulted in money being returned to consumers and investors.”

 

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