Georgia Financial Regulation Explained: What You Need to Know

A recent guide published by Practical Law FinanceLaw has shed light on the complex world of consumer financial regulation in Georgia. The publication, written by John ReVeal of K&L Gates LLP, provides a comprehensive overview of the state-specific laws governing the offering and sale of consumer financial products and services.

Overview of Georgia’s Consumer Financial Regulations

Georgia’s regulations cover a wide range of consumer financial products and services, including:

Credit cards
Residential mortgages
Consumer loans

The guide addresses key issues such as:

Licensing Requirements for Lenders and Financial Institutions

Obtaining necessary licenses before offering or selling consumer financial products and services in the state
Disclosing certain information to consumers, including:
- Terms of credit agreements
- Total cost of credit

Fair Lending Practices in Georgia

Georgia’s fair lending laws prohibit discrimination based on:

Race
Color
Religion
National origin
Sex
Age
Marital status
Disability

in the extension of credit.

Additionally, Georgia law prohibits unfair and deceptive trade practices, including:

False advertising
Bait-and-switch tactics

Comparison of Consumer Financial Regulation Across Jurisdictions

The publication also provides a comparison of consumer financial regulation across several jurisdictions, allowing readers to easily compare regulations in different states.

Conclusion

Overall, the Practical Law FinanceLaw guide provides a valuable resource for individuals and businesses seeking to navigate Georgia’s complex web of consumer financial regulations.