Banking and Securities Department Announces Quarterly Report on Enforcement Orders

HARRISBURG, Pa., July 7, 2017 /PRNewswire-USNewswire/ -- The Department of Banking and Securities issued 26 enforcement orders during the second quarter of 2017. Fines and assessments for these orders totaled $262,160, including:

Five Consent Agreement and Orders, one Summary Order to Cease and Desist, and one Final Order issued for violations of the Pennsylvania Securities Act of 1972, one of which included a 5-year suspension, one of which included a 10-year suspension, and one which included a permanent prohibition;

• Five Consent Agreement and Orders issued for violations of the Consumer Discount Company Act;
• Four Consent Agreement and Orders issued for violations of the Check Casher Licensing Act;
• Three Consent Agreement and Orders, and three Suspension Orders for violations of the Consumer Credit Code;
• Two Consent Agreement and Orders for violations of the Mortgage Licensing Act, one of which also cites violations of the Loan Interest and Protection Law;
• One Order to Show Cause and Cease and Desist, and one Cease and Desist Order issued for violations of the Consumer Discount Company Act and Loan Interest and Protection Law.

Comprehensive lists of enforcement orders administered by the Department of Banking and Securities are available online at www.dobs.pa.gov. Anyone can ask questions or file complaints concerning financial products or services by calling 1-800-PA-BANKS (or 800-600-0007) or visiting: www.dobs.pa.gov/Consumers/Pages/File-a-Complaint.aspx

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking and Securities

Related Links

http://www.dobs.pa.gov