Business in Brief
Pittsfield: Greylock Insurance in magazine
PITTSFIELD -- The Greylock Insurance Agency, a subsidiary of the Greylock Federal Credit Union, was featured in the March edition of TradeWinds, an industry publication produced by insurance carrier Arbella.
The agency profile focused on Greylock's success in building a stronger book of business by emphasizing outstanding customer service in partnership with the agency's parent company, Greylock Federal Credit Union.
In 2012 Arbella provided Greylock Insurance Agency with its Distractology 101, an interactive program developed by the Arbella Insurance Group Charitable Foundation to teach new drivers the dangers of distracted driving. In 2013 Greylock and Arbella are partnering in a cooperative advertising campaign to reinforce their shared sense of community values under Arbella's brand tagline of "Here for Good."
Established in 1988 and headquartered in Quincy, the Arbella Insurance Group is a company with more than $600 million in revenue and approximately $1 billion in assets.
Boston: State targets unlicensed lenders
BOSTON -- The Massachusetts Office of Consumer Affairs and Business Regulation along with the Division of Banks have issued a series of cease orders targeting unlicensed lenders and a licensed debt collector that were not adhering to the state's loan consumer protections.
The Division of Banks has order Delbert Services Corporation of Nevada, a licensed debt collector, and company owner John Rodman to immediately cease collecting payments on over 100 illegal loans made to state consumers.
The division also issued orders to five unlicensed Internet-based lenders who loans to Massachusetts consumers.
The payments on those loans were collected by Delbert Services.
Those companies include Cash Call Inc. and its wholly-owned subsidiary, WS Funding LLC, of Anaheim, Calif.; GP Investors LLC of Sicklerville, N.J.; Novea Resource Management LLC of Surfside, Fla.; and Western Sky Financial LLC of Timber Lake, S.D. The loans were illegal under the state's small-loan statute because they include excessively high interest rates and fees.
Anyone with questions regarding consumer loans of debt collection can contact the Division of Banks' consumer hotline at (800) 495-BANK (2265) ext. 501.
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