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Category: Short Term Installment Loans

Dan Haar: stonewalling and foot-dragging by CT banking regulators

Dan Haar: stonewalling and foot-dragging by CT banking regulators

An extremely exchange that is odd on Oct. 23 in a hot, crowded hearing space in Hartford, in which the fate of first Alliance Lending LLC, a once-large Connecticut home loan loan provider, hung in the total amount.

Stacey Serrano, an attorney for their state Department of Banking, had presented document after document, e-mail after e-mail, to her witness, Dan Landini, an examiner for that exact same division. Serrano joined each one of these as proof and asked Landini to see most of them aloud with minute details, verifying they were genuine.

About this time, these people were up to demonstrate No. 391. Serrano and Landini would do that for several days, all within the department’s instance against 1st Alliance, that is faced with using unlicensed home loan originators to complete work that will require a permit.

Landini was — but still is, to this day — the initial witness that is substantive this administrative hearing away from a lot more than 25 the division and first Alliance may phone to testify during the department’s workplaces. Therefore it’s shaping around be an endless litigation.

Landini just isn't yet completed plus the first Alliance attorneys have never yet cross-examined him, even with their 4 1/2 times in the stand.

On Oct. 23, there clearly was nevertheless a hope it might end reasonably.

“To the extent the witness is going to be reading from the document that’s already in proof, we object on due procedure grounds,” stated Craig Raabe, legal counsel for first Alliance, a transcript of this hearing shows. “We think it is a waste of the time.”

The hearing officer considered Serrano. “Is here in whatever way that we can perhaps speed things up?”

No, Serrano advised. The department alleged that first Alliance used at minimum 40 unlicensed originators for Connecticut loans.Leggi ancora

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