Pennsylvania Banking and Securities Department Announces Quarterly Report on Enforcement Orders

HARRISBURG, Pa., Oct. 9, 2014 /PRNewswire-USNewswire/ -- The Department of Banking and Securities issued 20 enforcement orders during the third quarter of 2014. Final orders included fines and assessments of $1,263,100, including:

• Seven Consent Agreements and Orders and two Final Orders issued for violations of the Pennsylvania Securities Act of 1972;
• Three Consent Agreements and Orders issued for violations of the Mortgage Licensing Act;
• Three Consent Agreement and Orders issued for violations of the Motor Vehicle Sales Finance Act;
• Two Consent Agreements and Orders issued for violations of the Consumer Discount Company Act and the Loan Interest and Protection Law;
• One Consent Agreement and Order issues for violations of the Check Casher Licensing Act; and
• One Consent Agreement and Order issued for violations of the Money Transmitter Act.

Additionally, one Consent Agreement and Order was reached under the Department of Banking and Securities Code.

Under these orders, two individuals were permanently barred from the securities industry in Pennsylvania, two investment adviser registrations were revoked, and three licenses were surrendered under Pennsylvania's consumer lending laws.

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