Financial Crime World

Georgia Department of Banking and Finance: The State’s Key Regulatory Body for Financial Institutions

The Georgia Department of Banking and Finance (DBF) plays a crucial role in ensuring the stability and integrity of the financial system in the state of Georgia. As the primary regulatory body for financial institutions operating in the state, the DBF is responsible for examining and supervising various types of financial entities.

Responsibilities

Based in Atlanta, Georgia, the DBF has a broad range of responsibilities, including:

  • Issuing licenses to financial institutions
  • Enforcing regulations
  • Working closely with federal regulatory agencies such as:
    • Federal Deposit Insurance Corporation (FDIC)
    • Federal Reserve Bank (FRB)
    • National Credit Union Administration (NCUA)

Regulated Entities

The DBF regulates a wide range of financial institutions, including:

  • Georgia state-chartered banks
  • Bank holding companies
  • Trust companies
  • Credit unions
  • Merchant Acquirer Limited Purpose Banks
  • Mortgage lenders
  • Brokers
  • Processors
  • Loan originators
  • Money transmitters
  • Sellers of payment instruments
  • Check cashers
  • Consumer installment lenders
  • International banking organizations operating in the state

Unique Roles

The DBF has a unique role in regulating:

  • Mortgage brokers, lenders, processors, and loan originators
  • Money service businesses, including:
    • Sellers of payment instruments
    • Check cashers
    • Consumer installment lenders

Resources for Financial Institutions

The DBF’s website offers resources for financial institutions, including:

  • Information on licensing requirements
  • Regulatory compliance
  • Industry trends
  • Organizational chart and division responsibilities

Contact Information

For those seeking to conduct business with the DBF, appointments can be made by calling (770) 986-1136. Walk-ins are not accepted at the department’s office located at:

2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565

Conclusion

As the state’s primary financial regulatory body, the Georgia Department of Banking and Finance plays a vital role in maintaining the integrity and stability of the financial system. By ensuring compliance with regulations and overseeing a wide range of financial institutions, the DBF helps to protect consumers and promote economic growth in the state of Georgia.