Connecticut has revised several provisions involving secured and unsecured lending laws, including, but not limited to, the following:

• The commissioner may now require the use of electronic bonds when using system-based licensure.
• Prelicensing education requirements have been added for individuals who: have not obtained a mortgage-loan originator license in any state or an active federal registration by the date that is three years from the date such individual completed 20 hours of prelicensing education; previously held but no longer holds an approved mortgage loan originator license in any state or an active federal registration; have not obtained a mortgage loan-originator license or a loan processor or underwriter license in Connecticut by the date that is three years from the date such individual completed one hour of Connecticut specific prelicensing education; and (4) previously held but no longer holds an approved mortgage loan-originator license or loan processor or underwriter license in Connecticut.
• Mortgage lenders, qualifying individuals, branch managers, and mortgage services must establish, enforce, and maintain policies and procedures reasonably designed to achieve compliance with the respective sections on prohibited acts.
• Small-loan lenders and consumer collection agencies must establish, enforce, and maintain policies and procedures for supervising employees, agents, and office operations that are reasonably designed to achieve compliance with relevant laws and regulations.
• Under the consumer collection agencies, debt adjuster and debt negotiation, and sales finance company law, "control person" has been defined as an individual that directly or indirectly exercises control over another person.
• Under the sales finance company and debt adjusters and debt negotiation laws, definitions for "advertise" and "advertising" have been added. "Advertise" and "advertising" means the use of any announcement, statement, assertion or representation that is placed before the public in a newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster or over any radio or television station, by means of the Internet, or by other electronic means of distributing information, by personal contact, or in any other way.
• Under the debt adjusters and debt negotiation law, definitions for "foreclosure rescue services," "residential property," and "short sale" have been added and/or modified.
• A prohibited list of activities has been added for sales finance companies. For instance, sales finance companies may not employ any scheme, device or artifice to defraud or mislead any person in connection with a retail installment contract or a retail installment loan.
• Student loan servicers must establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance with applicable student loan-servicing laws and regulations.

These provisions are effective on October 1, 2017.