Financial institutions today, Feb. 2013

Inside this issue:

Action on

2

Applications for

the Month of

February

Customer Service 3 Stars for the
Month of
February

Contact

4

Information

News and topics of interest to financial institutions regulated by the Department of Banking and Finance

Monthly Bulletin #2

February 2013

State and Federal Authorities Combat Corporate Account Takeover
The Conference of State Bank Supervisors (CSBS) and the Financial Services Information Sharing and Analysis Center (FS-ISAC) have joined with the US Secret Service and Texas Department of Banking to make the practices for mitigating the risks of Corporate Account Takeover available to financial institutions nationwide.
Corporate Account Takeover is a form of business identity theft whereby an unauthorized individual gains control of a business account for the purpose of transferring funds using fraudulent wire transfers or ACH transactions. This type of electronic theft is becoming increasingly common, not only at large money center institutions, but also at small and midsized community institutions.
Businesses across the United States have suffered large financial losses from electronic crimes through banks of all sizes. These thefts have ranged from a few thousand to several million dollars. Along with the financial impact, there is a very high level of reputational risk for financial institutions, which can undermine confidence in the banking system.
Implementing the Best Practices, which are available on the CSBS website at: http://www.csbs.org/ec/cato/Documents/BestPracticesCATO.docx, will increase awareness of the risks to bank employees and bank customers and provide actions that bank employees and customers should take before thieves further expand this threat.
Other tools and resources regarding Corporate Account Takeover are available on the CSBS website at: http://www.csbs.org/ec/cato/Pages/catotools.aspx

DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Braswell will be speaking at the Southeastern Georgia Banking Symposium on Wednesday, March 27, 2013 at Forest Heights Country Club in Statesboro, GA.
"Safeguarding Georgia's Financial Services"

Page 2

February 2013

Action on Applications for the Month of February:
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 February 2013.

APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION

FORMATIONS ONLY

BANK HOLDING COMPANY Charter Financial Corporation
West Point, GA

TO ACQUIRE CharterBank (FSB)
West Point, GA

APPROVAL 02-07-2013

PROPOSED NAME First Southern Bank
The Southern Credit Union

APPLICATIONS FOR RESERVATION OF A NAME

COUNTY Pierce County

APPLICANT Mr. William E. Hughes President & CEO The Patterson Bank P.O. Drawer 15 Patterson, GA 31557

Fayette County

Ms. Trisha P. Sherpy, EVP The Southern Federal Credit Union 430 East Lanier Avenue Fayetteville, GA 30214

APPLICATION FOR NEW SALE OF CHECK LICENSE

CHECK SELLER IDT Payment Services, Inc.
Newark, NJ

APPROVAL 02-19-2013

MONEY TRANSMITTER LICENSES ISSUED

MONEY TRANSMITTER Associated Foreign Exchange, Inc.
Encino, CA

APPROVAL 02-20-2013

February 2013

CHECK CASHER LICENSES ISSUED

CITY Cedartown Albany Atlanta Norcross Athens Eastman Leesburg Riverdale Canton Douglasville Covington Jonesboro Edison

APPLICANT NAME * Alexander E. Segura
Appleberry Properties, Inc. Christos T. Eyong DVR Group, Inc. Emily Jorge * J&C Butcher Block, Inc. * Jaja Health Service, LLC Mi Tierra Multi-Service, LLC Natasha and Nisha, Inc. * Parmar Enterprises, Inc. * Primerose International, LLC * Rana Enterprises, Inc. * West Foods, Inc.

TRADE NAME Asegura Insurance Services Appleberry Services Omniprovider OM Ashley Bargains & More
Quick Pick Food Avenues Newsstand Pure Food Mart John's Discount Store West Foods

* =Registered (O.C.G.A. 7-1-700 et al.)

Page 3

CUSTOMER SERVICE STARS FOR THE MONTH OF FEBRUARY
It is the Department's goal to provide excellent customer service by meeting and exceeding the expectations of our customers. Along those lines, we would like to recognize the following individuals and/or teams for going above and beyond in serving our customers:
Supervisory Examiner Joyce Jones (District 5) The Department received comments from a customer stating: "Thank you again for making a superb presentation to... The contents of your presentation were exactly on target for our curriculum and your presentation was excellent. It was very clear to me that you had spent a great deal of time in preparation and your delivery was very smooth."
Supervisory Examiner Rich Parker and his examination team (District 1) The Department received comments from a customer stating: "We would like to take the opportunity to thank GDBF Examiner Rich Parker and the other members of the state and FDIC team for the professionalism they exhibited during the examination. We appreciate the thoroughness of the examination and thoughtful and productive recommendations presented in your report."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!

Page 4
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

February 2013
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/processors, lenders and loan originators, 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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