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Violation Tracker Individual Record

Company: GMA Investments, LLC dba Summit Receivables
Penalty: $400,000
Year: 2018
Date: August 10, 2018
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: payday lending violation
Violation Description: GMA Investments was ordered to pay a $400,000 civil penalty in an Administrative judgment finding that it acted as a collection agency without a license, in some cases for payday loans provided by a lender without a license, also a violation of state law.
Level of Government: state
Action Type: agency action
Agency: Connecticut Department of Banking
Civil or Criminal Case: civil
Facility State: Connecticut
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.