Department of Banking and Finance
Our Mission
To promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our Vision
To be the best financial services industry regulator in the country – Progressive. Proactive. Service-Oriented
Our History
A new banking law for the State was approved on August 16, 1919, to become effective on January 1, 1920. The new law created the Department of Banking under the direction of a Superintendent of Banks. The Department of Banking was reorganized as the Department of Banking and Finance in 1972. In 1974, the banking laws were subject to substantial recodification in the form of the Financial Institutions Code of Georgia. The new Code became effective April 1, 1975.
Since establishment of the Department in 1919, additional responsibilities have been assigned to the agency in the form of the Georgia Credit Union Act (1925); Trust Company Laws of Georgia (1927); Georgia Sale of Checks Act (1965); The Fiduciary Investment Company Act (1970); International Bank Agency Act (1972); Georgia Business Development Corporation Act (1972); Regulation of Check Cashers (1990); the Georgia Residential Mortgage Act (1993), and the Georgia Fair Lending Act (October, 2002).
Who We Serve
The Department serves many audiences including: all licensed or regulated entities, consumers, consumer groups, the legislature, the Governor's Office, and other state and federal agencies. Those audiences are generally referred to as our "customers."
Our Divisions
The Financial Institutions Supervision Division is responsible for the supervision, regulation and examination of depository financial institutions and their affiliated companies that fall under the regulatory authority of the Department. The division is also responsible for application and registration processing for the entities under their supervision. The Supervisory Division is responsible for the supervision of the Department's six examination districts, which have district work areas located in various geographic regions of the state to facilitate the supervisory process.
The Administrative Division is responsible for human resource management, budgeting, accounting services, information systems, training activities, property management and records management.
The Non-Depository Financial Institutions Division is responsible for the licensing, regulation and examination of mortgage lenders, brokers, and processors who are licensees and registrants under the law. The Division is also responsible for the licensing and supervision of check cashers, sale of check companies, and money transmitters.
The Legal Division is responsible for providing legal and legislative drafting support for the Commissioner and staff. The Consumer Affairs section handles consumer complaints regarding financial institutions, mortgage licensees and registrants, and money service businesses regulated by the Department.
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