Department Enters into Consent Order with Christopher Lane Young

November 6, 2014

Atlanta, Georgia — On November 3, 2014, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Christopher Lane Young, NMLS # 232689, of South Carolina, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act discovered during an examination of Ikon Financial Group, LLC, NMLS number 239349. 

The terms of the Consent Order include the following:

  • Christopher Lane Young shall be prohibited from making an application for a Georgia mortgage loan originator’s license, a Georgia mortgage broker’s license, or a Georgia mortgage lender’s license, either in his individual capacity or as the owner or officer of a corporation, partnership or limited liability company.
  • Christopher Lane Young shall be prohibited from directing the affairs of a Georgia mortgage broker or Georgia mortgage lender or acting as a director, officer, partner, equitable owner, or any other equivalent role for a licensed Georgia mortgage broker or Georgia mortgage lender.
  • Christopher Lane Young shall be prohibited from acting as a branch manager for a Georgia branch of a Georgia licensed mortgage broker or Georgia licensed mortgage lender.
  • Christopher Lane Young shall cooperate with the Department or its agents in any investigation or administrative or civil action initiated by the Department against any current or former employees, officers, or owners of Ikon Financial Group, LLC. 
  • Christopher Lane Young shall contribute $1,000.00 to the State Regulatory Registry, LLC to support the Nationwide Mortgage Licensing System.


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

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