Financial Crime World

Financial Regulation Explained in Georgia: State Agency Oversees Banks, Credit Unions, and More

The Georgia Department of Banking and Finance plays a crucial role in regulating and examining state-chartered financial institutions within the Peach State. This includes banks, credit unions, trust companies, and more.

Regulatory Responsibilities

The Department is responsible for overseeing:

  • State-chartered banks
  • Bank holding companies
  • Trust companies chartered in Georgia
  • Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia

In addition to its role in supervising financial institutions, the Department has regulatory authority over various non-banking financial services, including:

  • Mortgage brokers and lenders
  • Loan originators and processors
  • Check cashers and sellers of payment instruments
  • Money transmitters
  • Consumer installment lenders
  • International banking organizations operating in Georgia

Headquarters and Office Hours

The Department is headquartered at 2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565. The office is open Monday through Friday from 8:00 a.m. to 5:00 p.m. Eastern Time. However, please note that the NDFI Division requires appointments for mortgage and money service business-related matters.

Shared Regulatory Responsibilities

The Department shares regulatory responsibility with federal agencies such as:

  • Federal Deposit Insurance Corporation (FDIC)
  • Federal Reserve Bank (FRB)
  • National Credit Union Administration (NCUA)

For activities taking place within Georgia, the Department is the sole regulator for mortgage lenders, brokers, consumer installment lenders, and money service businesses.

Regulated Financial Institutions and Service Providers

The agency regulates a wide range of financial institutions and service providers, including:

  • Georgia State-Chartered Banks
  • Bank Holding Companies
  • Georgia State-Chartered Trust Companies
  • Georgia State-Chartered Credit Unions
  • Georgia-chartered Merchant Acquirer Limited Purpose Banks (MALPBs)
  • Mortgage Lenders, Brokers, Processors, and Loan Originators
  • Money Transmitters
  • Sellers of Payment Instruments
  • Check Cashers
  • Consumer Installment Lenders
  • Foreign Banking Organizations

What the Department Does Not Regulate

The Department does not regulate:

  • National banks or federal credit unions, regardless of whether they operate in Georgia or elsewhere.
  • Out-of-state chartered banks or credit unions.

Additional Resources

For more information on the Department’s mission, vision, and core values, please visit their website. The department’s organizational chart is also available for download in PDF format.