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Department’s Order to Cease and Desist Issued to Ingo Money, Inc. Becomes Final

Department’s Order to Cease and Desist Issued to Ingo Money, Inc. Becomes Final

March 19, 2014

Atlanta, Georgia — On March 18, 2014, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Ingo Money, Inc. located at 623 Holcomb Bridge Road Roswell, GA 30076 became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Ingo Money, Inc. engaged in check cashing activities without a license, registration or under an applicable exemption, in violation of O.C.G.A. § 7-1-701(a).

Pursuant to Georgia law, it is prohibited for any person to engage in the business of cashing checks, drafts or money orders for consideration without being licensed or registered.

Contact
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: rodc@dbf.state.ga.us

 

The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, and state-chartered trust companies. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia.  In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.
 
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