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Department’s Order to Cease and Desist Issued to Christopher L. Young Becomes Final

Department’s Order to Cease and Desist Issued to Christopher L. Young Becomes Final

August 26, 2014

Atlanta, Georgia — On August 26, 2014, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Christopher Young, located at 1022 Carolina Blvd. Isle of Palms, SC 29451, became final.

In connection with an examination of IKON Financial Group, LLC, this Order to Cease and Desist was issued by the Department for violations of the Georgia Residential Mortgage Act, including but not limited to, violations of O.C.G.A. §§ 7-1-1013, 7-1-1006 and  7-1-1002. 

Pursuant to state law, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding five years, if the Order resulted from conducting mortgage business with an unlicensed person or committing prohibited acts.

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, seller of payment instruments, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.

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