Financial institutions today, 2018 February

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

Inside this issue: Disabled Adults and Elder Persons Protection Act

February 2018

Action on Applications for the Month

2 The Department has issued articles related to the Disabled Adults and Elder Persons Protection (DAEPP) Act and the legal responsibility the DAEPP Act places on all financial institution employees. During the examination process, examiners continue to note weaknesses within policies and procedures related to financial exploitation of disabled adults and/or elder persons. It is the Department's expectation that all financial institutions are aware of the DAEPP Act; particularly, Official Code of Georgia Annotated (O.C.G.A.) 30-5-3(a)(1)(B), which states, in part, "any employee of a financial institution having reasonable cause to believe that a disabled adult or elder person has been exploited shall report or cause reports to be made". This law requires all financial institution employees to be mandated reporters. It is a crime when a mandated reporter knowingly and willingly fails to report a case of suspected disabled adult or elder person abuse.

Our State-chartered financial institutions have the power and responsibility to be at the forefront of protecting disabled adults and elder persons from financial exploitation, which is increasing in activity.

The Consumer Financial Protection Bureau (CFPB) issued an Advisory for Financial Institutions on Preventing and Responding to Elder Financial Exploitation (Advisory) in March 2016 (http:// files.consumerfinance.gov/f/201603_cfpb_advisory-for-financial-institutions-on-preventing-andresponding-to-elder-financial-exploitation.pdf). This Advisory contains recommendations for financial institutions to set up or enhance policies and procedures. Additionally, it is the Department's expectation for all State-chartered financial institutions to have sound policies and procedures in place to protect disabled adults and elder persons from financial exploitation. The Board of Directors (Board) and senior management should develop policies and procedures that address, at a minimum, the following:

Requirement and frequency of financial exploitation training; Procedures for making reports; Escalation procedures for suspected exploitation activity to include suspicious activity reporting; A list of law enforcement contact personnel to assist when exploitation is suspected; and Documentation requirements and retention for suspected exploitation cases.
Written policies and procedures allow examiners to identify and support compliance with the DAEPP Act. The Department has the authority to cite apparent violations of O.C.G.A. 30-5-3 for financial institutions that do not maintain adequate written policies and procedures related to the DAEPP Act. It is the Department's desire to have State-chartered financial institutions be leaders in the industry in detecting and preventing financial exploitation of disabled adults and elder persons.
Additional information regarding financial exploitation of disabled adults and elder persons can be found on the Georgia Department of Human Services, Division of Aging Services website: https:// aging.georgia.gov/. Should you have questions regarding this article, please contact Supervisory Manager Mathew Robinson at Mrobinson@dbf.state.ga.us or Director for Supervision Pamela Keane at Pkeane@dbf.state.ga.us.
CSBS Releases BSA/AML Self-Assessment Tool for MSBs

On February 13, 2018, the Conference of State Bank Supervisors (CSBS) released a new voluntary tool to help money service businesses (MSBs) to better manage Bank Secrecy Act / Anti-Money Laundering (BSA/AML) risk. The tool, accessible at CSBS Job Aids, aims to help institutions better identify, monitor and communicate BSA/AML risk.

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Action on Applications for the Month

February 2018

The following is a summary of official action taken by the Department on applications by Georgia state-chartered financial institutions under Title 7, Chapter 1 of the O.C.G.A. and petitions for certificate of incorporation of financial institutions and other matters of interest during the month of February 2018:

PREVIOUS NAME Heritage First Bank (Savings Association)
GEMC Federal Credit Union

FINANCIAL INSTITUTION CONVERSIONS

CONVERTED TO

APPROVAL DATE

Heritage First Bank Rome, Floyd County

Pending

GEMC Credit Union Tucker, DeKalb County

Pending

EFFECTIVE DATE

FINANCIAL INSTITUTION State Bank of Georgia Fayetteville
Southern Bank Sardis

APPLICATIONS FOR DISSOLUTION APPROVAL DATE Pending

EFFECTIVE DATE

Pending

FINANCIAL INSTITUTION
SunTrust Bank Atlanta

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

BRANCH OFFICE

APPROVAL DATE

Aventura 2958 Aventura Boulevard, Unit 5 Aventura, FL 33180 Miami Dade County

Pending

SunTrust Bank Atlanta

Flagler Beach 2410 Moody Boulevard Flagler Beach, FL 32136 Flagler County

08-14-2017

SunTrust Bank Atlanta

Miller Crossing 15700 SW 56th Street Miami, FL 33185 Miami Dade County

Pending

SunTrust Bank Atlanta

Lake Deaton Plaza 750 Kristine Way The Villages, FL 32163 Sumter County

Pending

Members First Credit Union Decatur
First IC Bank Doraville

Main Office 2476 Lawrenceville Highway Decatur, GA 30033 DeKalb County
Flushing 147-50 Northern Boulevard Flushing, NY 11354 Queens County

12-29-2016 02-09-2018

BEGIN BUSINESS DATE
02-09-2018
01-29-2018

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NOA Bank Duluth
The Brand Banking Company Lawrenceville

Chamblee 5038 Buford Highway, Suite B Chamblee, GA 30341 DeKalb County
Winder 78 North Broad Street Winder, GA 30680 Barrow County

02-20-2018 Pending

February 2018

FINANCIAL INSTITUTION SunTrust Bank Atlanta
SunTrust Bank Atlanta

APPLICATIONS TO CHANGE LOCATION

CHANGE LOCATION OF

APPROVAL DATE

Semmes Avenue From: 1518 Hull Street
Richmond, VA 23224 Henrico County

Pending

To: 1200 Semmes Avenue Richmond, VA 23224 Henrico County

Scenic Promenade From: 1905 Scenic Highway
Snellville, GA 30078 Gwinnett County
To: 1689 Scenic Highway North Snellville, GA 30078 Gwinnett County

Pending

EFFECTIVE DATE

PROPOSED NAME GEMC Credit Union

APPLICATIONS FOR RESERVATION OF A NAME

COUNTY

APPLICANT

DeKalb County

Ms. Denise Swan, President GEMC Federal Credit Union 2100 East Exchange Place, Suite 101 Tucker, GA 30084

SURVIVOR
Georgia's Own Credit Union Atlanta, GA
Members First Credit Union Decatur, GA
Ameris Bank Moultrie, GA
Guardian Bank Valdosta, GA

FINANCIAL INSTITUTION MERGERS
MERGED INSTITUTION State Bank of Georgia Fayetteville, GA
Piedmont Plus Federal Credit Union Atlanta, GA
Atlantic Coast Bank Jacksonville, FL
Pelham Banking Company Pelham, GA

APPROVAL EFFECTIVE

DATE

DATE

Pending

02-26-2018

Pending

Pending

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APPLICATION TO ACQUIRE A FINANCIAL INSTITUTION

BANK HOLDING COMPANY
Ameris Bancorp Moultrie, GA

TO ACQUIRE
Atlantic Coast Financial Corporation Jacksonville, FL

February 2018
APPROVAL DATE Pending

The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, state-chartered trust companies, and bank holding companies that own Georgia state-chartered financial institutions. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks chartered in Georgia.
In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sellers-issuers of payment instruments, money transmitters, and international banking organizations.
Our Mission is to promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our Vision is to be a willing and able partner with our regulated entities in order to support vibrant economic growth and prosperity in Georgia.

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Department of Banking and Finance 2990 Brandywine Road, Suite 200 Atlanta, Georgia 30341-5565 Phone: (770) 986-1633 Fax: (770) 986-1654 or 1655