The Department issues a Final Order to Cease and Desist against Michelle O’Conner.

Atlanta, Georgia – Today, an Order to Cease and Desist (“Order”) issued by the Georgia Department of Banking and Finance (“Department”) to Michelle Lea O’Conner for engaging in activities in violation of the Georgia Installment Loan Act (“GILA”), O.C.G.A. § 7-3-1 et seq., became final.

The Order provided that the Department had evidence that Ms. O’Conner engaged in unlawful activities during the course of her employment with a licensed installment lender.  These activities involved fraudulently executing at least three (3) loan agreements without the customers’ knowledge or consent, including reopening paid out “former borrower” customer accounts, renewing the fraudulent loans, and unlawfully retaining the proceeds from the fraudulently opened customer accounts. 

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.

 

Contact:

Oscar B. Fears, III

Senior Deputy Commissioner 

Phone: (770) 986-1650

E-mail: [email protected]

 

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