The Connecticut Department of Banking (the “Department”) issued a guidance letter on September 11, 2023 (the “Guidance”) providing its position regarding the amendments to Connecticut’s Small Loan Lending and Related Activities Act (the “Act”) that become effective on October 1, 2023. We previously blogged about these amendments here.
The Department issued this guidance “to assist industry participants in evaluating the need for licensure and the effect of the various requirements under [the amended law].”… Continue Reading