Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
Financial Examiner 2 Teresa Koeppel Retires
Money Transmitter 2 and Seller of Payment Instruments
Quarterly Reporting
Changes in Control 2 - Ownership and Management
Upcoming Atlanta 3 Check Cashing Classes
Upcoming Forsyth 4 Check Cashing Class
Remaining 2016 4 State Holidays
Contact Information 4
APPENDIX: MSB Activity by Current
License Status

Governor Deal Signs House Bill 811
Governor Deal signed House Bill 811 into law on May 3, 2016. The bill was introduced by Representative Bruce Williamson at the request of the Department of Banking and Finance ("Department") and went into effect on July 1, 2016.
The bill revises statutory provisions governing the majority of the entities regulated by the Department banks, credit unions, bank holding companies, money service businesses, mortgage loan originators, and merchant acquirer limited purpose banks as well as certain provisions addressing the Department's general powers.
In regards to the money service businesses industry, the bill defines virtual currency and provides that money transmitters or sellers of payment instruments that transmit virtual currency are governed by the money service business laws and that the Department can enact unique regulations for these entities.
House Bill 811 can be viewed at: https://gov.georgia.gov/sites/gov.georgia.gov/files/ related_files/document/HB%20811.pdf
Department Adopts Final Rules
The Department adopted Final Rules on June 20, 2016. The Rules were filed with the Secretary of State on June 20, 2016, and will be effective twenty days later on July 10, 2016, pursuant to O.C.G.A. 50-13-6.
The Final Rules can be accessed from the Department's website at: http://dbf.georgia.gov/dbf-regulations/ or directly from http://dbf.georgia.gov/ documents/2016-dbf-final-rulemaking-6-20-16

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2nd Quarter 2016

Financial Examiner Teresa Koeppel Retires

Financial Examiner Teresa Koeppel retired effective May 31, 2016, after 29 years of faithful service to the State of Georgia.

Teresa Koeppel

Teresa began her career with the Department in 1987 as an examiner in the Northwest District Field Office, where she examined both banks and credit unions. She transferred to the Mortgage Division in April, 2001, where she served for almost five years as a mortgage examiner before transferring to the Money Service Business ("MSB") section in 2006. During her time in the MSB section, she served in both licensing and examination roles and as an instructor for check casher classes. Teresa also played an integral role in the Department's transition of its MSBs to the Nationwide Multistate Licensing System ("NMLS") in 2014.

Teresa has a BBA in Accounting from Kennesaw College. She is also a Certified Fraud Examiner. Congratulations Teresa! We wish you the best in your well-deserved retirement!

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 June 30, 2016.
In addition to completing the Department's 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). The Call Center is open 9:00 am to 9:00 pm (Eastern Time), Monday through Friday.
Please complete and submit both reports by August 14, 2016.
Licensees that fail to file both reports by the deadline will be assessed a fine of $1,000 and may subject their Georgia license to revocation.

Changes in Control - Ownership and Management
Licensed MSBs must submit a written request for approval by the Department prior to any proposed changes in ownership, control persons, or executive officers.
The changes that must comply with this requirement are those in which a person will directly (or indirectly) own or control 10 percent or more of the business organization. It also affects those changes in which a person will exert control over the organization, regardless of whether such person directly or indirectly owns a stake in the organization. Control is defined as directly or indirectly having the power to direct the management or policies of the licensed entity.

(Continued on page 3)

2nd Quarter 2016

Page 3

Changes in Control - Ownership and Management
(Continued from page 2)
The written request for the Department's approval must be submitted 30 days prior to the date of proposed change AND the proposed change cannot take effect without written approval from the Department. A non-refundable $500 application fee will be assessed by the Department via an Agency Fee Invoice through the NMLS upon receipt of the related jurisdictional documents for the requested change. In the event that the proposed change becomes effective without the Department's approval, a fine of $1,000 will be assessed. In addition to a fine, the Department may initiate an administrative action against the licensee.
Please keep in mind that the submission of an amendment through the NMLS for an Advance Change Notice (ACN) does not constitute the required written request to the Department for prior approval of the proposed change.
For additional guidance or instructions on how to submit a written request, please follow these links:
http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Check-Casher-CompanyAmendment-Checklist.pdf
http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Money-Transmitter-CompanyAmendment-Checklist.pdf
http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Seller-of-Payment-InstrumentsCompany-Amendment-Checklist.pdf

Upcoming Atlanta Check Cashing Classes
The Department offers a check cashing class that benefits first-time and experienced check cashers. These classes generally last about an hour. 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 770-986-1652 or emailing msb@dbf.state.ga.us. Reserve your seat now! We look forward to seeing you.
Upcoming Atlanta Check Casher Classes* July 19, 2016, 10:00 AM
September 14, 2016, 10:00 AM November 9, 2016, 10:00 AM
* Please note that the class schedule is subject to change

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2nd Quarter 2016

Upcoming Forsyth Check Cashing Class
Representatives from the Department will be speaking on Thursday, July 21, 2016, at 10 a.m. at the Tift College State Offices in Forsyth, Georgia. This will serve as an opportunity for MSB Licensees to learn about the examination process as well as any updates regarding the Department's laws and rules.
The class will take place at the following location:
State Offices South at Tift Vinzant Classroom #116 300 Patrol Road Forsyth, GA 31029
Email msb@dbf.state.ga.us to reserve your seat(s). Be sure to provide your name(s), company name, and license number.
If you are unable to attend this session, please refer to the information on Page 3 for a listing of remaining Atlanta classes for 2016.

Remaining 2016 State Holidays
Monday, September 5th Monday, October 10th Friday, November 11th Thursday, November 24th December 25th - will be observed on Monday, December 26th

Department Contact Information
NAME Fernando Ornelas, Supervisory Examiner Ana Contreras, Senior Assistant Financial Examiner Joel Byers, Senior NDFI Examiner

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

PHONE# (770) 986-1313 (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.

2nd Quarter 2016
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

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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 a willing and able partner with our regulated entities in order to support vibrant economic growth and prosperity in Georgia.

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.

APPENDIX

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.

MSB ACTIVITY BY CURRENT LICENSE STATUS

GA Check Casher License
Approved

NMLS# License#

Company Name

1299501

33322

BJR ENTERPRISES, INC.

1475769

50494

NEMO 22, LLC

1301673

30695

B & J BEVERAGE, INC.

1389125

46850

Turion Inc.

1443112

49151

SHARIF AND ALAM ENTRPPRISE,INC

1476028

50834

TAX PRO AIDE LLC

1465934

33900

SHAISHAV, INC.

1238669

34316

Video Tienda Jesus Maria #1

1485860

50883

LANG INC

1444046

48963

BP21 LLC

1489851

50990

DRASHTI GEORGIA LLC

1465636

50629

SHREE VAHANVATI INC

1485256

50939

822 Investments LLC

1241256

23050

JIN HA INC

1485470

50835

KRISHA URVA INC.

1470566

50169

JAY MELADI ONE INC

1493914

51261

Samiya Investment LLC

1489484

51042

DAMANI CANTON INC

1462955

51260

ACFS LLC

1482949

51095

ASK - Mel's Mart and Package Shop, Inc

Date 04/11/2016 04/12/2016 04/14/2016 04/26/2016 04/26/2016 04/27/2016 05/03/2016 05/03/2016 05/10/2016 05/13/2016 05/13/2016 05/17/2016 05/18/2016 05/20/2016 05/24/2016 06/02/2016 06/10/2016 06/10/2016 06/10/2016 06/10/2016

City Madison SAVANNAH MADISON Snellville College park DECATUR patterson Moultrie Kennesaw SAVANNAH CUMMING JACKSON Savannah MCINTYRE ROCHELLE savannah Norcross CANTON Norcross Louisville

State GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA GA

Appendix 1 of 2

20
Terminated - Surrendered/Cancelled

NMLS# License#

Company Name

1275559

44928

Newton Road Partners LLC

1234198

43350

1106 ROCKY CREEK INC

GA Money Transmitter License
Approved

NMLS# License#

Company Name

1456160

50495

VendEngine, Inc.

1288865

46360

Adyen, Inc.

1443924

50049

PAYMOTECH FINANCE CORP

1487712

50884

ADIKA GLOBAL LLC

4
Terminated - Surrendered/Cancelled

NMLS# License#

Company Name

1503

35322 Nationwide Biweekly Administration, Inc.

935195

24209 Skrill USA, Inc.

GA Seller of Payment Instruments License

Approved

NMLS# License#

Company Name

1377834

48220

FirstView, LLC

1177237 935195

47831 24209

Airbnb Payments, Inc. Skrill USA, Inc.

Date 04/26/2016 04/27/2016

City Albany MACON

State GA GA

Date 04/11/2016 05/12/2016 05/20/2016 06/10/2016

City Brentwood San Francisco Fort Lauderdale STONE MTN

State TN CA FL GA

Date 04/01/2016 06/16/2016

City Xenia New York

State OH NY

Date 04/11/2016 05/16/2016 06/16/2016

City Atlanta San Francisco New York

State GA CA NY

Appendix 2 of 2