PA Banking and Securities Department Announces Quarterly Report on Public Enforcement Orders

HARRISBURG, Pa., July 9, 2013 /PRNewswire-USNewswire/ -- The Pennsylvania Department of Banking and Securities issued 14 public enforcement orders during the second quarter of 2013. These orders included fines in the amount of $53,500:

• Five Consent Agreements and Orders issued for unlicensed loan activity;
• Two Summary Orders to Cease and Desist for unlicensed loan activity;
• Three Consent Agreements and Orders issued for violations of the Pennsylvania Securities Act of 1972;
• One Consent Agreement and Order issued resulting in a license suspension for violations of the Mortgage Licensing Act;
• One Summary Order to Cease and Desist resulting in the revocation of a license and a lifetime prohibition from the mortgage business in Pennsylvania; and
• Two Summary Orders to Cease and Desist resulting in the suspension of licenses for violations of the Motor Vehicle Sales Finance Act.

In addition, the Banking and Securities Commission affirmed one Summary Order to Cease and Desist for violations of the Pennsylvania Securities Act of 1972.

Comprehensive lists of public enforcement orders administered by the Department of Banking and Securities are available online at www.dobs.state.pa.us.

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

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking and Securities