State Insurance department trims Aetna AARP policy hike to 4 percent

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Aetna Life Insurance Co. was looking for a 7.5 percent increase on its Essential premier Health Insurance plans provided solely to AARP members in Connecticut, but the State Insurance Department trimmed the increase to 4 percent. There are about 1,200 Connecticut AARP members who will be affected, the department said in its decision. Many other […] [Read More]

Dodd-Frank helps CFTC bring record number of charges in fiscal year 2012

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From Ponzi schemes to price manipulation of metals, the U.S. Commodity Futures Trading Commission said Friday it set a record filing 102 enforcement actions for the fiscal year ended Sept. 30, 2012. “We have begun to use our new Dodd-Frank authority, and, a swe look forward, we will continue to do so as more new […] [Read More]

New York AG goes after JP Morgan for mortgage-backed securities fraud

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In case anyone forgot about the role major Wall Street banks played in the economic and housing crisis, New York Attorney General Eric T. Schneiderman is there to remind them, filing a lawsuit against JP Morgan over Bear Stearns’ mortgage-backed securities business, which allegedly was passing off high-risk mortgages as good investments throughout much of […] [Read More]

Signs of hope in unemployment and factory pay

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The state Labor Department reported Friday, the average weekly pay for factory workers hit a record for the 12-months ended June 30, 2012, rising to $1,046 from $996. That average is used to calculate the maximum weekly unemployment benefit for people who collect unemployment benefits. Which means the most anyone on unemployment can collect in […] [Read More]

Appraiser to pay $7.8 million to settle NY allegations it inflated housing prices for bank

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A settlement with one of the nation’s largest appraisal companies indicates some of the jump in home prices during the boom was indeed manufactured by banks looking to hand out loans. New York Attorney General Eric T. Schneiderman, announced Thursday the state had reached a $7.8 million settlement with First American Corp. and its division […] [Read More]

9000 Conn. foreclosure victims might be owed money

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Attorney General George Jepsen says Connecticut residents whose homes were taken through a flawed foreclosure process can now fill out an application to get some restitution. Post cards notifying eligible victims, those that lost homes between Jan. 1 2008 and Dec. 31, 2012, have already been sent out. About 9,000 residents were identified in the […] [Read More]

Investors lost more than $1 million in former Newtown man’s alleged M&A fraud

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The U.S. Attorney for the District of Connecticut announced Wednesday former Sandy Hook resident Garrett L. Denniston, 62, now of Boothbay Harbor, Maine, was arrested and charged Wednesday with wire fraud. According to the USA’s Office, Denniston allegedly told investors his company, Consensus One LLC. and other similarly named companies, had access to stocks or […] [Read More]

SEC brings charges after Danbury advisor admits to criminal fraud

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Danbury-based investment manager Stephen B. Blankenship has pleaded guilty to mail and securities fraud charges on Wednesday for a scheme that took 8 investors for $500,000, according to the government. Blankenship, 63 of New Fairfield, owned and operated Deer Hill Financial Group. The U.S. Attorney for the District of Connecticut, said Blankenship admitted to the […] [Read More]