Ga. Comp. R. & Regs. R. 80-11-1-.06 - Compliance with Federal Requirements
(1) For the purposes of this Rule,"loan or
finance company" refers to every person subject to the licensing requirements
of the Georgia Residential Mortgage Act ("GRMA") who satisfies the definition
of a loan or finance company under the Currency and Foreign Transactions
Reporting Act of 1970 and its related regulations, including those set forth at
31 CFR Chapter X (together, the "Bank Secrecy Act").
(2) Every loan or finance company shall
develop and implement a written anti-money laundering program and comply with
the filing requirements, recordkeeping requirements, currency transaction
reporting, suspicious activity reporting, and other requirements set forth in
the Bank Secrecy Act.
(3) Records
required to be maintained under this Rule shall be maintained in accordance
with Rule Chapter 80-11-2. Loan or finance companies may consult
https://www.fincen.gov/resources/financial-institutions/mortgage-co-broker
[File Link Not Available] for questions about the federal
requirements.
Notes
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