Consumer Questions or Complaints? Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800
Telephone: (860) 240-8200 For Question or
(860) 240-8288 For Complaints
Fax: (860) 240-8215
Key staff may be contacted via Email:
Carmine T. Costa, Division Director
Christina M. Kaiko
Department Manager (Licensing)
Connecticut Statutes Administered by the Division
[ Download Banking and Related Laws ]
Chapter 668, Part VI - Loan Brokers
Prohibits brokers of unsecured loans from requiring that applicants pay any advance fee before loan proceeds are disbursed.
Chapter 669, Part I - Creditors' Collection Practices
Comprehensively regulates the collection practices of creditors in the same way that the Federal Fair Debt Collection Practices Act regulates the collection practices of collection agencies.
Chapter 669, Part III - Truth-in-Lending Act
Adopts Federal Regulation Z by reference and provides the Banking Commissioner with authority to enforce Regulation Z as it applies to Connecticut creditors, except those holding Federal charters.
Chapter 669, Part IV - Interest and Finance Charge Rebates
Limits the applicability of methods of finance charge and interest rebates in consumer credit transactions which are less favorable to the consumer than the actuarial method.
Chapter 669, Part V - Consumer Credit Reports
Provides protections from credit reporting abuses and prescribes an error resolution procedure in the event of credit reporting errors. Places limits on the activities of credit repair firms known as credit clinics.
Chapter 669, Part VI - Mortgage Processing
Requires that mortgage lenders adhere to the terms of written mortgage rate lock-in agreements if delays in closing are caused by the lender.
Chapter 669, Part VII - Mortgage Servicing
Requires the prompt payment of taxes and insurance from mortgage escrow accounts if payments have been made by the consumer in a timely fashion and the mortgage servicer has been provided with tax or insurance bills before they are due.
Chapter 669, Part VIII - Mortgage Insurance
Requires certain disclosures in cases where mortgage guaranty insurance is required by a mortgage lender.
Chapter 669, Part X - Other Mortgage and Loan Practices
Requires that mortgage applicants who pay for an appraisal be offered a copy of the appraisal report; prohibits requiring owner's title insurance in connection with mortgage loans; limits the amount of fire insurance which may be required in connection with mortgage loans; requires payment of loan proceeds to mortgagors or closing attorneys by certified, treasurer's or cashier's checks or by wire transfer.
Chapter 669, Part XI - Retail Installment Sales Financing
Sets forth the contract requirements, rates, maximum late charges, finance charge rebates, repossession procedures and miscellaneous requirements for retail installment contracts and installment loan contracts.