Quarterly MSB newsletter: quarterly summary of money service businesses activities for the period ending December 31, 2016

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
Money Transmitter 2 and Seller of Payment Instruments
Quarterly Reporting NMLS Money 2 Services
Businesses Call Report Adoption NMLS Electronic 3
Surety Bond Adoption
Georgia New 3 Application and
Amendment Checklists
Upcoming Atlanta 4 Check Cashing Classes
Changes in Control 4 - Ownership and Management 2017 State 5 Holidays
Contact Information 5

2017 License Renewal Period Has Ended
The Annual License Renewal Period for 2017 has ended. A licensee that has submitted a renewal filing through the Nationwide Multistate Licensing System on or before December 31, 2016, can continue to work as a MSB unless and until there is a surrender/withdrawal of the license or a final order of denial or revocation is issued by the Department.
Renewal applicants with incomplete applications (e.g., unpaid fines/fees, license items) will be expired during the month of January 2017.
PENDING RENEWAL REQUESTS
Does your license have a renewal request pending? If so, please check your NMLS record for any deficiencies, or license items, placed by the Department. No renewal request will be approved with outstanding license items.
Many licensees that have not yet been approved owe fines and fees check your NMLS record to see if your renewal is being delayed due to unpaid fines and fees.
Fines and fees must be paid through the NMLS Agency Fee Invoice. Please visit the following link for information on how to pay the Agency Fee Invoice in NMLS: For a Company http://mortgage.nationwidelicensingsystem.org/licensees/resources/ LicenseeResources/Paying%20an%20Invoice_C.pdf

APPENDIX: MSB Activity by Current
License Status

Forgot to Renew an MSB License?
If an MSB did not request renewal by December 31, 2016, the license expired by operation of law effective January 1, 2017 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

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4th Quarter 2016

Money Transmitter and Seller of Payment Instruments Quarterly Reporting -- 2016 Q4 --
All Money Transmitter and Seller of Payment Instruments Licensees were emailed directly with instructions on how to complete the Department's online form that is part of the quarterly reporting requirements for the period ending December 31, 2016.
In addition to completing the webform, agent/office information must be uploaded via the Uniform Authorized Agent Report (UAAR) in the Nationwide Multistate Licensing System (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 (1-855-665-7123). The Call Center is open 9:00 am to 9:00 pm (Eastern Time), Monday through Friday.
Please complete and submit both reports by February 14, 2017.
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.

NMLS Money Services Businesses Call Report Adoption -- 2017 Q1 --
The Department has adopted the NMLS Money Services Businesses Call Report (MSBCR) functionality for submission of routine financial and transactional reporting requirements by Seller of Payment Instrument and Money Transmitter Licensees.
The NMLS MSBCR will go live in NMLS in the first quarter of 2017, with the initial report due 45 days after the first quarter end (May 15, 2017).
For 2017 reporting and beyond, licensees should follow the instructions and directions provided by NMLS for completing this requirement, in addition to updating the Uniform Authorized Agent Report. Licensees will also be required to continue to submit Average Daily Balance of Outstandings directly to the Department through the existing webform.
Over the next several months, the State Regulatory Registry (SRR), will provide free trainings, webinars, and additional resources to assist licensees in submitting the report. All updates and resources will be posted on the MSB Call Report page on the NMLS Resource Center. Likewise, the Department will continue to communicate with its licensees for reporting requirements outside of NMLS.
Background
The MSBCR was developed with the goal of enhancing and standardizing the information available to state regulators concerning the activities of their MSB licensees (money transmitters, check cashers, prepaid cards,
(Continued on page 3)

COMMONLY USED ACRONYMS

CC -- Check Casher License Department -- Ga. Department of Banking and Finance MSB -- Money Services Business MSBCR -- Money Services Businesses Call Report MT -- Money Transmitter License

NMLS or NMLSR -- Nationwide Multistate Licensing System & Registry O.C.G.A. -- Official Code of Georgia Annotated
SPI -- Seller of Payment Instruments License
UAAR -- Uniform Authorized Agent Report

4th Quarter 2016

Page 3

NMLS Money Services Businesses Call Report Adoption
(Continued from page 2)
etc.). Licensees will be able to complete the MSBCR directly in NMLS. The MSBCR includes national and state specific MSB activity information that is submitted on a quarterly and annual basis.
If you have additional questions, please e-mail the Department's MSB Section at msb@dbf.state.ga.us.
Training webinars will be held free of charge through the NMLS Learning Management System (LMS). Below are the training opportunities that will be offered to licensees. Dates below are tentative and may be subject to change.
February 13-16: MSBCR Sessions at NMLS Conference March 28: Industry MSBCR Pre-Go Live Training April 11: Industry MSBCR Training April 18: Industry MSBCR Q&A Session

NMLS Electronic Surety Bond Adoption
On January 23, 2017, the Department will begin accepting Electronic Surety Bonds (ESB) through the NMLS. All new applicants for a Money Transmitter or Seller of Payment Instrument License will be required to use the ESB to meet Georgia's surety bond requirements. For existing licensees, electronic bond conversion will take place over the next year with a deadline of December 31, 2017.
Please refer to the ESB resources on NMLS found at: http://mortgage.nationwidelicensingsystem.org/Pages/ ESBforNMLSLicensees.aspx.
ESB Training for Licensees NMLS held a complimentary training session for state-licensed companies impacted by the ESB enhancements that became available in NMLS on September 10, 2016. The session, intended for Account Administrators (AAs), provides an overview of the ESB enhancements, including the bond creation and management process, a demonstration of the new functionality, and the resources available on the NMLS Resource Center. Log in to the LMS and access the recording.

Georgia New Application and Amendment Checklists
Please visit the NMLS Resource Center for our most current checklists and jurisdictional forms. When making any change to your NMLS record, please consult the appropriate Amendment checklist. Using outdated forms will delay the processing of applications and other approval requests.

Georgia Check Casher License Georgia Money Transmitter License Georgia Seller of Payment Instruments License

New Application Amendment
New Application Amendment
New Application Amendment

Page 4

4th Quarter 2016

Upcoming Atlanta Check Cashing Class
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 Class* March 8, 2017, 10:00 AM June 7, 2017, 10:00 AM
September 6, 2017, 10:00 AM December 6, 2017, 10:00 AM
* Please note that the class schedule is subject to change

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.
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.
(Continued on page 5)

4th Quarter 2016

Page 5

Changes in Control - Ownership and Management
(Continued from page 4)
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

2017 State Holidays
Please refer to the following document link -- http://team.georgia.gov/wp-content/uploads/2016/08/2017-StateHolidays.pdf -- for a list of the dates in 2017 proclaimed by the Governor as public and legal state holidays when the Capitol and all State agencies will be closed.
HOLIDAY CLOSING
This is a reminder that the Department will be closed on Monday, January 16th for Martin Luther King, Jr.'s Birthday.

Department Contact Information
NAME Fernando Ornelas, Supervisory Examiner Ana Contreras, Senior Assistant Financial Examiner Byron Larios, Assistant Financial Examiner

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

PHONE# (770) 986-1313 (770) 986-1652 (770) 986-1639

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.

Page 6
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

4th Quarter 2016
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 e-mail 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 reques t was Denied. The entity's licens e was Revoked and the entity is no longer authorized to conduct business. The entity failed to renew. Alternatively, this license s tatus is als o used for MLOs that were s us pended by adm inis trative action for failing to m eet Georgia's sponsorship requirement. An entity has been ordered to s urrender their approved licens e. 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

1530221

52582

TWO BROTHERS CONVENIENCE INC

1528548

52629

RAWAL ENTERPRISES LLC

1512884

52004

L K BUSINESS, INC

1533934

53370

DHANLAXMI INVESTMENTS INC

1556733

53426

SUNRISE 2015 INC.

1263004

42126

SINGHANI INVESTMENT GROUP LLC

1556089

22210

Mr of Shell Inc

1560820

53565

ONE TRIP OF GEORGIA INC

1537053

52718

PURNIMA USA LLC

1561778

53634

ANDREAG & ASSOCIATES INC

1230975

43748

SAMSON MERGER SUB, LLC

1230987

18213

WINN-DIXIE STORES, INC.

1230992

18226

WINN-DIXIE RALEIGH, INC.

1230980

23397

BILO, LLC

1561741

53687

Maa Vahanvati Inc

1524654

52372

Shiv Krisha,Inc.

1549725

53428

ASHVEEN INC

1561649

53849

P AND J Inc

1580779

54405

AHIVESH INC

1577938

54404

BlueGem Venture Inc

Date 11/07/2016 11/07/2016 11/10/2016 11/14/2016 11/23/2016 12/05/2016 12/08/2016 12/08/2016 12/08/2016 12/13/2016 12/14/2016 12/14/2016 12/14/2016 12/14/2016 12/16/2016 12/16/2016 12/19/2016 12/21/2016 12/29/2016 12/29/2016

City FOREST PARK ELLENWOOD LILBURN CARTERSVILLE BAINBRIDGE HOMERVILLE Atlanta HOMERVILLE GLENWOOD Hazlehurst JACKSONVILLE JACKSONVILLE JACKSONVILLE JACKSONVILLE JACKSON JACKSON TOCCOA alma DECATUR Albany

State GA GA GA GA GA GA GA GA GA GA FL FL FL FL GA GA GA GA GA GA

Appendix 1 of 2

20

Terminated - Surrendered/Cancelled

NMLS# License#

Company Name

1240750

33907

Buster Enterprises Inc

1228572

19165

Old South Pawn Shop Inc

1240951

34731

SAHILANSH,INC

1240671

43142

V4 INVESTMENT LLC

1235273

33794

Northwood C. store Inc

1233300

12862

C & C CHECK CASHING, INC.

6
GA Money Transmitter License

Approved

NMLS# License#

Company Name

1367273

46605

The Smart Group, L.P. dba SmartNote

1445015

49153

Creative Solutions Software Corp.

1485885

51610

Align Commerce Payments Inc.

1456595

50373

Rakuten Card USA, Inc.

1541136

53635

VONAYIS TECHNOLOGY INC

5

Terminated - Surrendered/Cancelled

NMLS# License#

Company Name

917964

20240

Xoom Corporation

1
GA Seller of Payment Instruments License

Approved

NMLS# License#

Company Name

1277102

45853

Alipay US, Inc.

1518126

52628

Gemini Trust Company, LLC

2

Date 11/07/2016 11/07/2016 11/10/2016 11/10/2016 11/18/2016 11/28/2016

City Columbus Macon Baldwin MABLETON ATLANTA Atlanta

State GA GA GA GA GA GA

Date 11/02/2016 11/03/2016 11/08/2016 11/18/2016 12/15/2016

City Austin Ann Arbor San Francisco San Mateo SNELLVILLE

State TX MI CA CA GA

Date 11/14/2016

City San Francisco

State CA

Date 10/19/2016 11/18/2016

City San Mateo New York

State CA NY

Appendix 2 of 2