Georgia Department of Banking and Finance's Revocation of the Check Casher License of Young Choe d/b/a Check Cash Plus Becomes Final

August 17, 2011


Atlanta, Georgia - On August 11, 2011, a Notice of Intent to Revoke Annual License (“Notice”) became final against Young Choe d/b/a Check Cash Plus, check casher license number 18953, formerly located at 221-A Cleveland Avenue, SW, Atlanta, Georgia 30315.    

This Notice provided that in violation of state law, Young Choe d/b/a Check Cash Plus made false statements in renewal applications filed for her check casher license and/or failed to give correct responses to questions in such applications; demonstrated her incompetency and/or untrustworthiness as a licensed casher of checks; engaged in dishonest activities and/or made any misrepresentation; failed to have conspicuously posted at all times a notice stating the charges for the cashing of checks; failed to remit to the Department within the prescribed timeframe examination fees assessed; engaged in the business of cashing checks under a license that was improperly transferred, assigned, or subjected to a change of ownership without prior agency approval; failed to comply with registration, recordkeeping, compliance policy and reporting requirements of the Bank Secrecy Act and related regulations; failed to post in prominent view of each teller window / customer service station a copy of her license; and failed to have in the employee file of a member of supervisory personnel a complete Financial and Biographical Information Report and independent credit report.

Further, the Notice alleged that Young Choe, in her individual capacity, was the recipient of a final order to cease and desist issued by the Department for participating in the conduct of a financial institution in an unsafe or unauthorized manner and would not have been granted a check casher license if her application was now before this agency. 

Pursuant to state law, it is prohibited for any person to cash checks without holding a check casher’s license or registration or without operating under a lawful exemption from licensure or registration. 

Related Press Release:
Orders to Cease and Desist Issued to Young Choe and Eric Young Become Final, as does the Revocation of the Check Seller License of Eastern Union, Inc. d/b/a United One

 

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 loan originators, 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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