Department's Order to Cease and Desist Against Financial Services of America, LLC Becomes Final

July 1, 2009


Atlanta, Georgia ~ On June 28, 2009, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance to Financial Services of America, LLC, Norcross, Georgia, became final. This Order to Cease and Desist was issued by the Department after it obtained evidence that Financial Services of America, LLC, engaged in mortgage broker/lending activities without a license or pursuant to an applicable exemption.

Pursuant to Georgia law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to an entity that is not licensed or exempt from licensing or registration provisions to engage in mortgage broker/lender activities.

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

 

The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.  Visit us on the Web at: http://dbf.georgia.gov/

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