Pennsylvania Banking and Securities Department Announces Quarterly Report on Enforcement Orders

HARRISBURG, Pa., July 10, 2014 /PRNewswire-USNewswire/ -- The Department of Banking and Securities issued 10 enforcement orders during the second quarter of 2014. Final orders included fines and assessments of $16,500, including:

• Six Consent Agreements and Orders for violations of the Mortgage Licensing Act, including the suspension of one mortgage broker's license;
• Two Consent Agreements and Orders issued for violations of the Pennsylvania Securities Act of 1972, which resulted in one permanent ban from doing business in Pennsylvania, a single one-year ban and one suspension; and
• One Consent Agreement and Order for violations of the Check Cashers Licensing Act.

Additionally, in response to multiple consumer complaints, the department issued one Cease and Desist order for unlicensed lending in violation of the Consumer Discount Company Act and the Loan Interest and Protection Law.

Comprehensive lists of 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