Georgia Department Of Banking And Finance
The Georgia Department of Banking and Finance is the state agency that regulates and examines banks, credit unions and trust companies that are chartered by the State. The department also has regulatory and/or licensing authority over mortgage brokers and lenders check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.
The Georgia Department of Banking and Finance does everything to ensure that Georgia laws and regulations work smoothly with the new federal laws and regulations in the areas of financial holding companies, financial subsidiaries, and privacy. For example, the Georgia Fair Lending Act has a significant impact on Georgia residential mortgage lending and brokering activities. It was in 2003 that the Georgia Sale of Check Act was amended to include a licensing requirement for money transmitters.
The Georgia Department of Banking and Finance continues to make changes to the code to streamline the application process, reduce regulatory burden on regulated entities, and coordinate its procedures with federal requirements. The Department is dedicated to providing the citizens of the State of Georgia with quick and efficient solutions to their inquiries and problems.
However, at the same time, the Georgia Department of Banking and Finance also makes it clear that the Department is neither an advocate for the individual consumer nor for regulated financial institutions or licensees. Consumers can establish communication with the Department, whether by phone, e-mail or in writing. This way, they can resolve their problems or get answers to their questions.