The Department issues a Final Order to Cease and Desist against Mary Flanagan.

Atlanta, Georgia – On or about June 13, 2024, the Georgia Department of Banking and Finance (“Department”) served an Order to Cease and Desist (“Order”) to Mary Bay Flanagan for engaging in activities in violation of the Georgia Installment Loan Act (“GILA”), O.C.G.A. § 7-3-1 et seq. The Order became final on July 8, 2024.

The Order provided that the Department had evidence that Ms. Flanagan engaged in unlawful activities during the course of her employment with two separate licensed installment lenders.  These activities involved fraudulently executing twenty-five (25) loan agreements while working for the first licensed installment lender by way of creating new customer accounts, renewing open active customer accounts, and reopening paid out “former borrower” customer accounts all without the customers’ knowledge or consent, as well as unlawfully retaining the proceeds from each customer account. Furthermore, while employed by the second licensed installment lender, Ms. Flanagan also fraudulently executed sixteen (16) loan agreements without the customers’ knowledge or consent and unlawfully retained the proceeds from each customer account.  

Pursuant to O.C.G.A. § 7-3-43(d), the Department may revoke the license of an installment lender that employs an individual subject to a final cease and desist order under GILA within the past five (5) years.



Oscar B. Fears, III

Senior Deputy Commissioner

Phone: (770) 986-1650

E-mail: [email protected]