Pennsylvania Banking and Securities Department Announces Quarterly Report on Enforcement Orders

HARRISBURG, Pa., July 8, 2015 /PRNewswire-USNewswire/ -- The Department of Banking and Securities issued 12 enforcement orders during the second quarter of 2015. Final orders included fines and assessments of $233,600, including:

• Four Consent Agreement and Orders issued for violations of the Pennsylvania Securities Act of 1972, under which one individual was barred permanently from the industry and three individuals were barred for 6 months;
• Two Consent Agreement and Orders issued for violations of the Consumer Credit Code;
• Two Consent Agreement and Orders issued for violations of the Money Transmitter Act;
• One Consent Agreement and Order issued for violations of the Mortgage Licensing Act and the Consumer Discount Company Act;
• One Consent Agreement and Order issued for violations of the Mortgage Licensing Act; and
• One multi-state agreement issued for violations of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

The department also issued one Cease and Desist order for violations of the Loan Interest and Protection Law, the Consumer Discount Company Act, and the Pawnbrokers License Act.

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

Related Links

http://www.dobs.pa.gov