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Connecticut poised To become fifth state to enact privacy law

CFPB Monitor

Connecticut is the next in a growing list of states to pass comprehensive data privacy legislation. Last Friday, the Connecticut legislature passed, by large margins, Senate Bill 6 — which we are referring to as the Connecticut Data Privacy Act (CTDPA). The law now awaits the Governor’s signature. No Rule Making Authority.

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Connecticut Department of Banking issues consumer and industry advisory on money transmission

CFPB Monitor

On July 20, 2022, the Connecticut Department of Banking (the “Department”) issued a Consumer and Industry Advisory on Money Transmission (the “Advisory”). The definition of money transmission was further broadened in 2018 when Connecticut amended its money transmitter statute to encompass transmission activities involving virtual currency.

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Connecticut AG Launches Antitrust Probe Into Amazon’s eBook Business

PYMNTS

Connecticut Attorney General William Tong is launching an antitrust probe into how Amazon runs its eBook business, the Wall Street Journal (WSJ) reported on Thursday (Jan. Connecticut’s inquiry is just the latest antitrust probe by several state and federal authorities into how Amazon conducts its business.

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SMB Profile: Looking Forward To Christmas In Connecticut

PYMNTS

Like all the towns on the Connecticut shoreline, Guilford is centered around a village green. On its north side stands a picture-postcard, white-steepled church. To the east is another church and spire, this one made of carved granite taken from the local quarries.

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Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

CFPB Monitor

The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. Some Connecticut borrowers were assessed a late fee equal to 15% of the principal loan amount, which was generally split equally between the lender and SoLo.

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Connecticut Community Bank Offers Highest 18-Month CD Rate in CT

BankDeals

Connecticut Community Bank, N.A. is currently offering an 18-month CD with the highest rate in Connecticut. Minimum opening deposit is $500. Also available as an IRA CD.

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Connecticut Learns From NY’s Payroll Card Strifes

PYMNTS

28) said Connecticut is preparing for a new statute to legalize payroll cards. Connecticut is also ensuring that, while payroll cards can expire, the funds loaded onto them cannot, and lost cards can be replaced once a year when an employee makes such a request. Reports on Wednesday (Sept. The statute comes into effect Oct.