Inside this issue: 
 
FinCEN Releases 
 
2 
 
Money Services 
 
Businesses BSA/AML 
 
Examination Manual 
 
DBF Outreach and 
 
2 
 
Upcoming Speaking 
 
Engagements 
 
Action on 
 
3 
 
Applications for the 
 
Month of January 
 
News and topics of interest to financial institutions regulated by the Department of Banking and Finance 
 
Monthly Bulletin #1 
 
January 2009 
 
FDIC Issues Final Rule on Processing of Deposit Accounts in the Event of Depository Institution Failure 
On January 27, 2009, the Federal Deposit Insurance Corporation (FDIC) issued a final rule on processing deposit accounts in the event of failure. The final rule applies to all FDIC-insured institutions and establishes the FDIC's practices for determining, for deposit insurance and receivership purposes, deposit and other account balances at a failed depository institution. 
 
The final rule is effective July 1, 2009, and requires that insured depository institutions inform their sweep account customers of the nature of their swept funds and how those funds would be treated if the institution should fail. Excluded from the requirement are sweep arrangements where funds are moved between deposit accounts and the deposit insurance available to the customer is unchanged. 
 
The final rule can be viewed on the FDIC's website at: http://www.fdic.gov/news/ board/22Jan09_Rule_Claims.pdf 
 
Financial Regulators Release Guidance on Risk Management of Remote Deposit Capture 
On January 14, 2009, the Federal Financial Institutions Examination Council (FFIEC) issued guidance for examiners, financial institutions, and technology service providers to identify risks, evaluate controls, and assess risk management practices related to remote deposit capture (RDC) systems. 
The guidance, Risk Management of Remote Deposit Capture, addresses the essential elements of RDC risk management. Among other things, the guidance concludes that financial institutions offering RDC must: 
 Have sound risk management and mitigation systems that addresses the potential legal, compliance, reputation, and occupational risks of an RDC system, 
 Identify the related types and levels of risk exposure prior to implementing RDC and periodically thereafter, 
 Identify the roles, responsibilities and liabilities of all parties through comprehensive contracts and customer agreements, 
 Require adequate risk management at their customers' locations,  Implement appropriate technology and process controls at both the financial institution and the 
customer's locations, and  In coordination with customers, implement risk measurement and monitoring systems. 
You may access the FFIEC press release at: http://www.ffiec.gov/press/pr011409.htm For a copy of the FFIEC RDC Guidance, go to: http://www.ffiec.gov/pdf/pr011409_rdc_guidance.pdf 
 
"Safeguarding Georgia's Financial Services" 
 
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FinCEN Releases Money Services Businesses BSA/AML Examination Manual 
On December 9th, the Financial Crimes Enforcement Network (FinCEN) announced the release of a manual to provide guidance to officials examining money services businesses (MSBs) for compliance with the requirements of the Bank Secrecy Act (BSA). Several organizations collaborated on this manual to ensure consistency in the application of BSA requirements, including: the Internal Revenue Service, state agencies responsible for MSB regulation, the Money Transmitter Regulators Association (MTRA), the Conference of State Bank Supervisors (CSBS), and FinCEN. 
The "Bank Secrecy Act / Anti-Money Laundering Examination Manual for Money Services Businesses" describes in detail the common framework to be used when examining MSBs. The new manual contains an overview of AML program requirements, BSA/AML risks and risk management expectations, sound industry practices, and examination procedures. The manual also contains an industry overview section, developed in collaboration with industry representatives. 
Key aspects of the approach concern the risk assessment process - both by the MSB in establishing its policies and also by the regulator in determining the depth of review and transaction testing. MSBs should clearly document their risk and have risk based policies and procedures. It is then important for the MSB to closely follow their documented procedures. Oversight by the Principal MSB of any agents is also critical. Then, a detailed independent review by qualified persons will go a long way towards helping to understand and address risk. 
Where risks are low or have been effectively mitigated, the regulators may perform less transaction testing. Entities at higher risk, who have not effectively mitigated risk, have not corrected identified issues, or are found not to be in compliance with the BSA and/or their own policies, will be subject to increased scrutiny. 
DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS 
Commissioner Rob Braswell will be participating in a panel during the UGA Terry College of Business's Annual Southeast Management and Directors College being held on February 12th at the Gwinnett Center. Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be giving a "Law & Rule" update on February 12th to the Mortgage Brokers Association. Commissioner Rob Braswell and Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking to the Mortgage Bankers at the State Capitol on February 17th at 8:00 a.m. Deputy Commissioner for Supervision Kevin Hagler will be speaking on February 5th at the CBA Tax & Regulatory meeting. He will also be speaking on February 11th to the State Bar - Institute of Continuing Legal Education in Georgia and on February 26th at the CBA Directors' College, Pine Mountain, GA (Callaway Gardens). Various Department staff members will be attending the 5th Annual GREFPAC Conference being held on February 20th at the Cobb Galleria Convention Centre. For more information, go to GREFAC's website at http://www.grefpac.org/conf_info.html. District Director Lori Binford will be speaking at a meeting of the Georgia Appraiser's Coalition being held on March 5th at The Blue Room of the Georgia Freight Depot. 
 
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Action on Applications for the Month of January: 
The following is a summary of official action taken on applications by State Financial Institutions under Chapter 7-1 of the Code of Georgia and petitions for Certificate of Incorporation of Financial Institutions and other matters of interest during the month of January 2009. 
 
APPLICATIONS FOR NEW FINANCIAL INSTITUTION 
 
FINANCIAL INSTITUTION North Metro Bank Highway 9 & Bethelview Drive Cumming, GA 30040 Forsyth County 
 
CAPITALIZATION $ 22,000,000 
 
APPROVAL Withdrawn 01-06-2009 
 
BEGIN BUSINESS 
 
APPLICATIONS TO ESTABLISH A BRANCH OFFICE 
 
FINANCIAL INSTITUTION Citizens Trust Bank Atlanta 
 
BRANCH OFFICE Stone Mountain Street Branch Office 3065 Stone Mountain Street Lithonia, GA 30058 DeKalb County 
 
APPROVAL Pending 
 
BEGIN BUSINESS 
 
SunTrust Bank Atlanta 
 
Clint Moore Road Branch Office 6653 Jog Road Boca Raton, FL 33496 Palm Beach County 
 
01-26-2009 
 
SunTrust Bank Atlanta 
 
The Forum Branch Office 3330 Forum Boulevard Fort Myers, FL 33905 Lee County 
 
01-26-2009 
 
Columbus Bank and Trust Company Columbus 
 
Buena Vista Branch Office 4505 Buena Vista Road Columbus, GA 31907 Muscogee County 
 
01-13-2009 
 
Ameris Bank Moultrie 
 
West Main Street Branch Office 707 West Main Street Lexington, SC 29072 Lexington County 
 
02-15-2008 
 
01-12-2009 
 
Southwest Georgia Bank Moultrie 
 
Valdosta Branch Office 3400 North Valdosta Road Valdosta, GA 31602 Lowndes County 
 
Pending 
 
APPLICATIONS TO CHANGE LOCATION 
 
FINANCIAL INSTITUTION 
 
CHANGE LOCATION OF 
 
SunTrust Bank 
 
Great Falls Branch Office 
 
Atlanta 
 
From: 9883 Georgetown Pike 
 
Great Falls, VA 
 
Fairfax County 
 
To: 9912 Georgetown Pike 
 
Great Falls, VA 22066 
 
Fairfax County 
 
APPROVAL 01-20-2009 
 
EFFECTIVE 
 
 Page 4 PROPOSED NAME SB&T Bank 
Security Bank of Georgia SunCoast Credit Union 
 
APPLICATIONS FOR RESERVATION OF A NAME 
 
COUNTY Dougherty County 
 
APPLICANT Mr. Michael J. Shumaker Bryan Cave Powell Goldstein One Atlantic Center, Fourteenth Floor 1201 West Peachtree Street, NW Atlanta, GA 30309-3488 
 
Bibb County 
 
Mr. Michael N. White Martin Snow, LLP Post Office Box 1606 Macon, GA 31202-1606 
 
Glynn County 
 
Mr. B R. Gibson President/CEO Sea Island Credit Union 4401 Altama Avenue Brunswick, GA 31520-3006 
 
FINANCIAL INSTITUTION MERGERS 
 
FINANCIAL INSTITUTION 
(SURVIVOR) Security Bank and Trust Company of Albany Albany, GA 
 
MERGED INSTITUTION Sumter Bank and Trust Company Americus, GA 
 
APPROVAL EFFECTIVE Pending 
 
IBM Southeast Employees' Federal Credit Union CMAR Credit Union 
 
Boca Raton, FL 
 
Marietta, GA 
 
01-30-2009 
 
Security Bank of Bibb County Macon, GA 
 
Security Bank of North Fulton Alpharetta, GA 
 
Pending 
 
Security Bank of Bibb County Macon, GA 
 
Security Bank of Jones County Gray, GA 
 
Pending 
 
Security Bank of Bibb County Macon, GA 
 
Security Bank of Houston County Perry, GA 
 
Pending 
 
Security Bank of Bibb County Macon, GA 
 
Security Bank of Gwinnett County Suwanee, GA 
 
Pending 
 
Security Bank of Bibb County Macon, GA 
 
Security Bank of North Metro Woodstock, GA 
 
Pending 
 
First Gulf Bank, National Association Pensacola, FL 
 
RBC Bank (Georgia) Atlanta, GA 
 
Pending 
 
 CREDIT UNION Credit Union of Georgia Woodstock 
LGE Community Credit Union Marietta 
 
NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND 
 
RESIDENTIAL GROUP COMMON BOND Cherokee County, GA 
 
APPROVAL 01-20-2009 
 
Paulding County, GA 
 
01-22-2009 
 
Page 5 
 
CHECK CASHER LICENSES ISSUED 
 
CITY Riverdale Cairo Jasper Marietta Atlanta Chatsworth Decatur Cedartown Pooler Macon Dalton Columbus Cartersville Lawrenceville Dublin Woodstock Lilburn 
 
APPLICANT NAME * Akshay, Inc. * Blough Tech, Inc. 
BuckAtlanta Investments, Inc. Charlie's Beer & Wine, Inc. * Enlighten Enterprise, Inc. * Gallons 2 Go, Inc. Golden Forest Spirits, Inc. * Humza, Inc. Jack in the Box Check Cashing, Inc. * KBAP Inc. * La Michoacana Enterprises, Inc. * MJ's Bill Pay & Tax Services, LLC * Mee-Jays, Inc. Neighborhood Financial CenterInc. * Robert Lee Bailey * Sahithi, LLC Secure Investments Inc. 
 
TRADE NAME Citgo Food Mart 
Charlie's Beer & Wine One Stop Shop 
Hal's Beer and Wine Super Grand's Jack in the Box Check Cashing Shurlington Food Mart La Michoacana 
Citgo Express 
Robert Lee Bailey S & J Food Mart 
 
* =Registered (O.C.G.A. 7-1-700 et al) 
 
MONEY TRANSMITTER BraxUSA, LLC Kennesaw, GA 
 
MONEY TRANSMITTER LICENSES ISSUED 
APPROVAL 01-21-2009 
 
 GEORGIA 
DEPARTMENT OF BANKING AND FINANCE 
2990 Brandywine Road Suite 200 
Atlanta, Georgia 30341-5565 
Phone: (770) 986-1633 Fax: (770) 986-1654 or 1655 Email: dbfpress@dbf.state.ga.us 
 
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The Department is the state agency that regulates and examines banks, credit unions, and trust companies chartered by the State of Georgia. The Department also has regulatory and/or licensing authority over mortgage brokers, lenders, and processors, money service businesses, international banking organizations, and bank holding companies conducting business in Georgia. 
Our Mission is to promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision. 
Our Vision is to be the best financial services industry regulator in the country  Progressive. Proactive. Service-Oriented. 
 
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"Safeguarding Georgia's Financial Services"