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

HARRISBURG, Pa., Jan. 8, 2013 /PRNewswire-USNewswire/ -- The Department of Banking and Securities' Non-Depository Bureau of Compliance and Licensing administered 17 public enforcement orders during the fourth quarter of 2012, which included $42,100 in fines.

The following violations were included in the orders:

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

These orders include the prohibition of two individuals, the revocation of one license and the surrender of one license for unlicensed mortgage loan origination activity in Pennsylvania.

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 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



RELATED LINKS
http://www.dobs.state.pa.us

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