NH Banking Department issues consumer alert regarding
Dargon Law Firm, PLLC
The New Hampshire Banking Department has issued a consumer alert pertaining to outstanding fees and penalties concerning Dargon Law Firm, PLLC and its owner Daniel P. Dargon. Mr. Dargon was fined and ordered to pay his former clients restitution. No payment toward fines or restitution has been made and Mr. Dargon has filed for bankruptcy. The Banking Department encourages all consumers harmed by Mr. Dargon’s actions to contact the United States Bankruptcy Court for the District of Massachusetts.
For more information please view the press release.
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Ongoing Covid-19 guidance for Banks, Credit Unions and Trust Companies
The New Hampshire Banking Department has reference materials, FAQs and guidelines in place for chartered entities that may have questions about branch closings and openings and other areas of operation that might be affected by the pandemic. For more information, please click the links below.
Impacts of Covid: impacts-of-covid-19-20200313.pdf
Branch closings: updated-guidance-faqs-20200316.pdf
Branch reopenings: updt-guid-breopen-20200528.pdf
The Federal Trade Commission is sending out a second round of refunds to people affected by a major payday lending scheme operated by AMG Services, Inc. that used names like 500FastCash, OneClickCash, Ameriloan, UnitedCashLoans, and USFastCash, among others. If you received an online payday loan from a company linked to AMG, you may be getting a check in the mail. If you do, you must cash it before August 17, 2022.
The FTC sued AMG for charging people more for loans than they had originally agreed to pay and sent the first round of refunds in 2018. The FTC is now sending more than 690,000 refund checks totaling $152 million.
Here’s what to know: Checks will arrive automatically. You don’t need to apply or fill out a claim form. Checks expire on August 17, 2022. To verify the check is from the FTC, go to AMG Services Refunds | Federal Trade Commission (ftc.gov). For questions about your check or the refund process, call the administrator (Rust Consulting) at 1-866-730-8147, or email admin@AMGServicesRefund.com.
Said rate shall be 0.00% and shall be effective commencing February 1, 2022 and shall remain in effect until the next rate announcement on August 1, 2022.
Please note that the above rate is applicable only to persons subject to NH RSA 397-A. After the passage of House Bill 610 in 2021, depository banks shall credit each escrow account with interest at a rate no lower than the highest target federal funds interest rate in the range set by the Federal Open Market Committee, minus one percent. For more details, please review RSA 383-B:3-303(a)(7)(E).
Cybersecurity Awareness Month is an annual observation that encourages consumers and businesses to take steps to protect themselves from cyberattacks. The theme of Cybersecurity Awareness Month 2021 is “Focusing on the Fundamentals.”
Cybersecurity breaches are not always the act of sophisticated hackers and foreign agents. Most successful cyberattacks are caused by a failure to follow well-established cybersecurity practices. To ensure your institution is following these best practices, we encourage you to take steps to collaborate with your regulators and your peers.
For more information and additional resources about being cyber-secure please visit: Keep My Bank Secure, the Conference of State Bank Supervisors Ransomware Self-Assessment Tool, the US Government’s Stop Ransomware initiative, and the Cybersecurity & Infrastructure Security Agency (Cybersecurity Awareness Month | CISA).
Informative videos: ANATOMY OF A CYBER ATTACK - KeepMyBankSecure.com - YouTube and Cybersecurity Strategies with Phillip Hinkle, Director of IT Security Examinations with the Texas Department of Banking, and Trey Maust, Executive Chairman of Lewis & Clark Bank (Cybersecurity Strategies - featuring Phillip Hinkle and Trey Maust - YouTube).
Pursuant to state law and the Department's policy and procedure, the per diem fee for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $908. Similarly, the per diem fee for all entities licensed under consumer credit laws has been calculated to be $934. This new per diem fee will be charged for all examinations commencing on or after October 1, 2021.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Gerald H. Little,Bank Commissioner, announced the minimum interest rate payable on moneys on deposit in escrow accounts maintained for the payment of taxes or insurance premiums related to loans on property secured by real estate mortgages.
Said rate shall be 0.00% and shall be effective commencing August 1, 2021 and shall remain in effect until House Bill 610 becomes effective.
For more specific information about this issue please see the website set up by Nationstar Mortgage LLC d/b/a Mr. Cooper at https://www.mrcooper.com/blog/2021/04/26/payment-information-center/.
The escrow rate for the period February 1, 2021 through July 31, 2021 is 0.00%.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Gerald H. Little, Bank Commissioner, announced the minimum interest rate payable on moneys on deposit in escrow accounts maintained for the payment of taxes or insurance premiums related to loans on property secured by real estate mortgages.
Said rate shall be 0.00% and shall be effective commencing February 1, 2021 and shall remain in effect until the next rate announcement on August 1, 2021.
Attorney General Gordon J. MacDonald and New Hampshire Bank Commissioner Gerald H. Little announce that their agencies have joined with 52 other state regulators, 51 state attorneys general and the federal Consumer Financial Protection Bureau (CFPB) in a settlement agreement with Nationstar Mortgage LLC, d/b/a Mr. Cooper, one of the largest mortgage servicers in the nation, closing a multiyear investigation of the company.
The Joint Press Release may be found at: [https://www.doj.nh.gov/news/2020/20201210-nationstar-settlement.htm].
The settlement agreement and consent order may be found at: [www.csbs.org/2020-settlement-agreement-and-consent-order].
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help consumers struggling with financial hardship due to the COVID-19 pandemic.
For consumers experiencing financial hardship that has made it difficult to maintain your mortgage payments, the following link provides important information about your rights to mortgage payment forbearance and foreclosure protection under the CARES Act.
https://www.csbs.org/system/files/2020-05/CSBS-CFPB_Consumers_Forbearance_Guide_May_2020_0.pdf
Please review this information carefully and reach out to your servicer for assistance with making your loan payments.
If you are having difficulty working with your servicer, you may contact the Department at 603-271-3561 for assistance with understanding your rights under the CARES Act.
Pursuant to state law and the Department's policy and procedure, the per diem fee for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $1,074. Similarly, the per diem fee for all entities licensed under consumer credit laws has been calculated to be $955. This new per diem fee will be charged for all examinations commencing on or after October 1, 2020.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
The escrow rate for the period August 1, 2020 through January 31, 2021 is 0.00%.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Emelia A.S. Galdieri, Deputy Bank Commissioner, announced the minimum interest rate payable on moneys on deposit in escrow accounts maintained for the payment of taxes or insurance premiums related to loans on property secured by real estate mortgages.
Said rate shall be 0.00% and shall be effective commencing August 1, 2020 and shall remain in effect until the next rate announcement on February 1, 2021.
Attorney General Gordon J. MacDonald urges people in New Hampshire to be on the alert for charitable giving and consumer product scams related to the COVID-19 outbreak. View the Press Release. View the Charitable Giving Fraud Alert Flyer.
Also visit covid19.nh.gov for up-to-date information about the COVID-19 outbreak in New Hampshire.
U.S. Attorney Scott W. Murrary of the District of New Hampshire today urged the public to report suspected fraud schemes related to COVID-19 (the Coronavirus) by calling the National Center for Disaster Fraud (NCDF) hotline (1-866-720-5721) or to the NCDF e-mail address disaster@leo.gov. The public can also report fraud to the FBI's Internet Crime Complaint Center at www.IC3.gov. View the Press Release.
To find more about Department of Justice resources and information, please visit www.justice.gov/coronavirus.
The Federal Trade Commissioner ("FTC") warns consumers to be aware of scammers asking you to pay to get your government issued check. FTC article Checks from the Government.
Be aware of this as well as other Coronavirus-related scams. Visit ftc.gov.
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Banking Department
53 Regional Drive | Suite 200 | Concord, NH 03301
(603) 271-3561 | fax: (603) 271-1090 or (603) 271-0750