Pennsylvania Banking Department Announces Quarterly Report on Enforcement Actions

HARRISBURG, Pa., July 8 /PRNewswire-USNewswire/ -- The Department of Banking took 26 enforcement actions and suspended three mortgage licenses during the second quarter of the year.  

Enforcement highlights included:

• The department issued six cease and desist orders against companies engaged in unlicensed loan modification activities.
• The department entered consent agreements with 10 mortgage loan companies for violations of the Mortgage Licensing Act and/or unlicensed activity.  
• The department issued a cease and desist order against an Internet payday lender after receiving complaints from a Pennsylvania consumer who was charged interest and fees in excess of state law.  

A comprehensive list of enforcement actions taken by the Department of Banking is available online at www.banking.state.pa.us. Consumers can file a complaint against any company regulated by the Department of Banking online or by calling 1-800-PA-BANKS.

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking

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