Quarterly MSB newsletter, Issue 1 (Jan.-Mar. 2015)

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
Quarterly Summary of Money Service Businesses Activities MonthflyorSutmhmeaPryeorfioMdorEtgnadgeinAgctiMvitaiercs hfo3r 1th,e2P0e1ri5od Ending April 2007

Inside this Issue:
Forgot to Renew/ 2 Transition an MSB
License?
Money Transmitter 2 and Seller of Payment Instruments
Quarterly Reporting
Upcoming Atlanta 2 Check Cashing Classes
Upcoming State 3 Holidays
MSB Activity by 4 Current License
Status
Contact Information 7

Company (MU1) Amendments in NMLS
The following information applies to all MSB license types.
Your Company (MU1) Form may require updating in NMLS based on the following events: Information in your record changes Owners/Executive officers join or leave your company Actions occur that require disclosure questions to be updated Ownership or control of your company changes Company Legal Name Change Company Main Address Change Change in Trade Names Changes in affiliates/subsidiaries Legal Status Change (if retaining EIN)
Many revisions only require updates to the appropriate section of the Company (MU1) Form in NMLS; other revisions may require an Advance Change Notice (ACN) as prior approval may be required.
Georgia' State Licensing Page contains Amendment checklists for each MSB license type with detailed information and instructions. Some amendments also require jurisdictional documents be sent to the Department, please refer to your license type's amendment checklist.

Agency Fee Invoices --Paying Fines and Fees
All Department fines and fees are collected via Agency Fee Invoice. As fines and fees are assessed, an Outstanding Agency Fee Invoice license item will be created on your NMLS record. NMLS accepts both credit card and ACH; however, credit card payments are charged an additional 2.5 percent service fee. Prompt payment is required. NMLS may restrict access to entities with unpaid invoices.
The Agency Fee Invoice Quick Guide provides instructions on how to pay an invoice through your NMLS account.

"Safeguarding Georgia's Financial Services"

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1st Quarter 2015

Forgot to Renew/Transition an MSB License?
If an MSB did not file an application for transition by December 31, 2014, the license expired by operation of law effective January 1, 2015 AND the licensee may not conduct MSB activity in Georgia.
The licensee must submit a new application through the NMLS: http://mortgage.nationwidelicensingsystem.org/slr/ Pages/DynamicLicenses.aspx?StateID=GA
This submission includes mailing in the jurisdiction-specific documents listed in the NEW APPLICATION CHECKLIST that say, "click to download document" - http://mortgage.nationwidelicensingsystem.org/slr/Pages/ DynamicLicenses.aspx?StateID=GA
All changes to your company structure including ownership, officers, address, etc., must be made through NMLS. Some changes have a fee attached to them. Please refer to the amendment checklist for your license type: http:// mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=GA

Money Transmitter and Seller of Payment Instruments Quarterly Reporting
All Money Transmitter and Seller of Payment Instruments Licensees were emailed directly with instructions on how to complete the online form that is being used for quarterly reporting requirements for the period ending March 31, 2015.
In addition to completing this webform, agent/office information must be uploaded via the UAAR in the NMLS to complete your quarterly reporting. If you have no agents or offices, you must still report through the NMLS. Questions regarding the UAAR should be directed to the NMLS Call Center at 1-855-NMLS-123 (1-855665-7123).
Please complete and submit both reports by May 15, 2015. Any reports received after the May 15th deadline will be subject to a fine of $1,000.
Upcoming Atlanta Check Cashing Classes
The Department offers a check cashing class that benefits first-time and veteran check cashers. Classes are scheduled on Tuesdays at 10:00 a.m. and generally last about an hour and a half.
Upcoming 2015 Check Casher Class Dates and Times*
May 19, 2015, 10:00 AM July 21, 2015, 10:00 AM September 15, 2015, 10:00 AM November 17, 2015, 10:00 AM

1st Quarter 2015

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Upcoming Atlanta Check Cashing Classes
(Continued from page 2)
There is no cost for the class and it is a great way to learn about Georgia law, Department regulations, the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements. During examinations, those who have attended the class have stated that the knowledge and information they gained helped prevent violations and avoid the imposition of fines. As a further benefit, the Department provides a certificate of attendance that licensees may use as evidence of training received on BSA and Anti-Money Laundering.
The classes are limited to a maximum of seven attendees, so you must make an advance reservation by calling 770-986-1639 or emailing tkoeppel@dbf.state.ga.us. Reserve your seat NOW! We look forward to seeing you.
* Please note that the class schedule is subject to change

Upcoming 2015 State Holidays

Holiday Name Confederate Memorial Day
Memorial Day Independence Day

Date Observed Sunday, April 26th Will be observed on Monday, April 27th
Monday, May 25th
Saturday, July 4th Will be observed on Friday, July 3rd

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1st Quarter 2015

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1st Quarter 2015

License Status Definitions:
License Status Approved Denied Revoked Terminated Expired
Terminated Ordered to Surrender Terminated Surrendered/Cancelled

Definition
The entity has an Approved license.
The entity applied for a license and the request was Denied.
The entity's license was Revoked and the entity is no longer authorized to conduct business. The entity failed to renew. Alternatively, this license status is also used for MLOs that were suspended by administrative action for failing to meet Georgia's sponsorship requirement. An entity has been ordered to surrender their approved license. The entity is not authorized to conduct business. The entity has requested a surrender/cancelation of their license and the regulator has granted this surrender/ cancelation request.

1st Quarter 2015
Department Contact Information
NAME Teresa Koeppel, Administrative Examiner Ana Contreras, Applications Analyst Joel Byers, Senior NDFI Examiner

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E-MAIL ADDRESS tkoeppel@dbf.state.ga.us acontreras@dbf.state.ga.us byers@dbf.state.ga.us

PHONE# (770) 986-1639 (770) 986-1652 (770) 986-1656

Corresponding with the Department
When corresponding with the Department, e-mail communication is preferred. Providing written details in the email regarding any questions or concerns you may have allows the Department to forward the request to the appropriate person who handles that area, and if sufficient details are included in the request, that person can then more efficiently provide you with an answer. The main Division e-mail address is msb@dbf.state.ga.us.
Since the Department's main method of communicating with licensees is via e-mail, it is very important that you supply the Department with a valid e-mail address and that you keep us informed if your e-mail address changes. Please be sure that your e-mail account does not divert Department e-mail to your spam or junk folder.

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Georgia Department of Banking and Finance
2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565 Phone: (770) 986-1633
Fax: (770) 986-1655 or 1029 Email: msb@dbf.state.ga.us
We're on the Web! dbf.georgia.gov

1st Quarter 2015
The Department is the state agency that regulates and examines Georgia statechartered banks, state-chartered credit unions, and state-chartered trust companies. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia.
In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sellersissuers of payment instruments, money transmitters, 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.

Sign-up to Receive this Publication
This quarterly publication is delivered to interested parties via e-mail and is also available from the Department's website at: http://dbf.georgia.gov under Publications, MSB Newsletter. If you would like to be added to our distribution list, send an email to dbfpress@dbf.state.ga.us stating your name and e-mail address. Please be sure to include "Subscribe to MSB Newsletter" in the Subject line.