Bulletin 3237 - March 6, 2026

Bulletin 3237 - March 6, 2026

The Department of Banking News Bulletin

Bulletin # 3237 - Week Ending March 6, 2026

This Bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

CONSUMER CREDIT ACTIVITY

Milner Legal Services

On February 25, 2026, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty ("Order"), in the matter of Milner Legal Services, ("Respondent"), West Covina, California.

The basis of the Order was that: (1) Respondent acted within this state as a consumer collection agency without a consumer collection agency license which constituted at least one violation of Section 36a-801(a) of the Connecticut General Statutes; (2) Respondent falsely represented or implied that the communication to the complainant was from or on behalf of an attorney which constituted at least one violation of Section 36a-805(a)(1) of the Connecticut General Statutes, in effect at such time; (3) Respondent falsely represented the character, amount or legal status of the debt, falsely represented that the communication was from an attorney, and threatened to take legal action against the complainant that cannot legally be taken which constituted unfair and deceptive practices pursuant to Sections 36a-806(a) and 36a-808 of the Connecticut General Statutes; (4) Respondent falsely represented the character, amount or legal status of the debt, falsely represented that the communication was from an attorney, and threatened to take legal action against the consumer that cannot legally be taken which constituted violations of Section 1006.18 of the Fair Debt Collection Practices Act, 15 USC Section 1692 et seq., as from time to time amended, and any regulations adopted under said act, which in turn constituted violations of Section 36a-812 of the Connecticut General Statutes; and (5) Respondent falsely represented the character, amount or legal status of the debt, falsely represented that the communication was from an attorney, and threatened to take legal action against the consumer that cannot legally be taken which constituted violations of subdivisions (2)(A), (3) and (5) of Section 36a-809-11 of the Regulations of Connecticut State Agencies.

Respondent failed to request a hearing within the prescribed time period, and the allegations were deemed admitted. As a result, the Commissioner ordered Respondent to cease and desist from violating Sections 36a-801(a), 36a-806(a), 36a-808 and 36a-812 of the Connecticut General Statutes, Section 36a-805(a)(1) of the Connecticut General Statutes, as amended by Public Act 25 168, and subdivisions (2)(A), (3) and (5) of Section 36a-809-11 of the Regulations of Connecticut State Agencies, and imposed a civil penalty of $200,000 upon Respondent.

Buyers Holdings, LLC

On February 26, 2026, the Commissioner issued a Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing ("Order and Notice"), in the matter of Buyers Holdings, LLC, NMLS # 1706706 ("Respondent"), North Miami, Florida.

The Order and Notice was the result of an investigation by the Consumer Credit Division which stemmed from a routine examination of a licensee. The Commissioner alleged in the Order and Notice that: (1) Respondent acted within this state as a consumer collection agency without a consumer collection agency license which constitute at least 12 violations of Section 36a-801(a) of the Connecticut General Statutes; and (2) Respondent's statement that Respondent did not engage in unlicensed consumer collection activity in Connecticut constitutes a statement which is, at the time and in the light of the circumstances under which it is made, false or misleading in a material respect, in violation of Section 36a-53a of the Connecticut General Statutes.

The Commissioner found that the public welfare required immediate action to issue a Temporary Order to Cease and Desist against Respondent. Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order and Notice.

Dated: Tuesday, March 10, 2026

Jorge L. Perez
Banking Commissioner