On August 7, the Connecticut Department of Banking issued a consent order against a Nebraska-based licensed student loan servicer for allegedly receiving payments on at least 1,114 small loans from January 2022 through March 2026 without a small loan company license. According to the consent order, the servicer had been licensed as a student loan servicer in Connecticut since November 2016 but did not obtain a small loan company license until March. The consent order, which the servicer entered without admitting or denying the allegations, requires the servicer not to engage in such activities without proper licensure and to implement policies and procedures to monitor whether the owners of small loans for whom it conducts servicing in Connecticut are either duly licensed as small loan companies or exempt from licensure requirements. The company agreed to pay a $25,000 civil penalty and $800 in back licensing fees.