Pa. Banking and Securities Department Announces Quarterly Report on Public Enforcement Orders

HARRISBURG, Pa., Oct. 11, 2012 /PRNewswire-USNewswire/ -- The Department of Banking and Securities' Bureau of Compliance and Licensing administered 18 public enforcement orders during the third quarter of 2012, which included fines in the amount of $103,850.

The following violations were included in the orders:

• Two companies engaged in unlicensed mortgage loan origination activity;
• Three companies engaged in unlicensed mortgage loan modification activity;
• Four companies engaged in unlicensed auto finance sales activity;
• Two companies engaged in unlicensed money transmitter activity;
• One company engaged in illegal payday lending; and
• Six companies engaged in various other unauthorized non-mortgage related activity.

These orders include the revocation of two licenses for violating a previous consent agreement issued by the department for unauthorized auto finance sales activity in Pennsylvania.

A comprehensive list of public enforcement orders administered by the Department of Banking and Securities is available online at www.dobs.state.pa.us.

Consumers can make inquiries or file a complaint against any company regulated or licensed by the Department of Banking and Securities online or by calling 1-800-PA-BANKS (800-722-2657). Investors can call 1-800-600-0007.

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking