Ga. Comp. R. & Regs. R. 80-4-1-.05 - Administrative Fines and Penalties
(1)
Except as otherwise indicated, these fines and penalties apply to any person,
partnership, association, corporation, or any other group of individuals,
however organized, that is required to be licensed under Article 4A of Chapter
1 of Title 7. The Department, at its sole discretion, may waive or modify a
fine based upon the financial resources of the person, gravity of the
violation, history of previous violations, and such other facts and
circumstances deemed appropriate by the Department.
(2) All fines levied by the Department are
due within thirty (30) days from the date of assessment and must be paid prior
to renewal of the annual license, reapplication for a license, or any other
activity requiring Departmental approval.
(3) In addition to any fines levied by the
Department, the recipient of the fine may be subject to additional
administrative actions for the same underlying activity.
(4) The Department establishes the following
fines and penalties for violation of the law and rules governing check cashers.
(a) Books and Records. If the Department, in
the course of an examination or investigation, finds that a licensee has failed
to maintain its books and records according to the requirements of O.C.G.A. §
7-1-706(a) and
Rules 80-4-1-.01(2) or
80-4-1-.01(5), such
licensee shall be subject to a fine of one thousand dollars ($1,000) for each
books and records violation listed in Rules
80-4-1-.01(2) or
80-4-1-.01(5).
(b) Excessive Fees. If the Department, in the
course of an examination or investigation, finds that a licensee has charged
fees for cashing payment instruments in excess of the amount set forth in
O.C.G.A. §
7-1-707(f), such
licensee shall be subject to a fine of five thousand dollars ($5,000) per
occurrence.
(c) Posting of Charges.
Any licensee who does not display, at all locations, a notice stating the
charges/fees for cashing payment instruments in accordance with O.C.G.A. §
7-1-707.1 shall be subject to a
fine of five hundred dollars ($500).
(d) Operating Without Proper License. Any
person who acts as a check casher prior to receiving a current license required
under Article 4A of Chapter 1 of Title 7, or who acquires a business that
cashes payment instruments and operates without its own license, or during the
time a suspension, revocation or applicable cease and desist order is in
effect, shall be subject to a fine of one thousand dollars ($1,000) per day.
(e) Felons. Any licensee that
hires or retains a covered employee who is a felon as described in O.C.G.A. §
7-1-703(c), when
such covered employee has not complied with the remedies provided for in
O.C.G.A. §
7-1-703(c) for
each conviction before such employment, shall be subject to a fine of five
thousand dollars ($5,000) for each such covered employee.
(f) Background Checks on Employees. Any
licensee that does not obtain a criminal background check on each covered
employee prior to the initial date of hire, retention, or transition of an
existing employee to a covered employee as set forth in Rule
80-4-1-.10(1) shall
be subject to a fine of one thousand dollars ($1,000) per occurrence. Proof of
the required criminal background check must be retained by the licensee until
five years after termination of employment by the licensee. Notwithstanding
compliance with this requirement to perform a criminal background check prior
to employment, failure to maintain criminal background checks as required will
result in a fine of one thousand dollars ($1,000) for each covered employee for
which the licensee is missing this documentation.
(g) Deferred Payment. Any licensee that
defers payment on a payment instrument pending collection and has not obtained
the surety bond as required by O.C.G.A. §
7-1-707(c) shall
be subject to a fine of five thousand dollars ($5,000) per
occurrence.
(h) Other Business
Activities. Any licensee found to have violated any law of this state by
conducting any other business that is not lawful in conjunction with cashing
payment instruments, shall be subject to a fine of five thousand dollars
($5,000).
(i) Corporate Checks. Any
licensee that cashes a payment instrument made payable to a corporation or
other business association or cashes a payment instrument drawn by the
corporation or other business association and made payable to cash without the
proper written authorization as required by O.C.G.A. §
7-1-707(d) and
Rule 80-4-1-.01(3) shall
be subject to a fine of one thousand dollars ($1,000) per occurrence.
(j) Advertising - "No Identification
Required." A licensee that advertises that it will cash payment instruments
with no identification required will be subject to a fine of one thousand
dollars ($1,000).
(k)
Identification Requirements for Cashing Payment Instruments. No licensee shall
cash payment instruments without identification of the bearer of such check.
Failure to comply with the requirements of O.C.G.A. §
7-1-707(e) shall
subject the licensee to a fine of one thousand dollars ($1,000) per
occurrence.
(l) Failure to Submit
to Exam. The penalty for the refusal of a licensee to permit the Department to
conduct an investigation or examination of its books, accounts, and records
(after a reasonable request by the Department), shall be a five thousand dollar
($5,000) fine. Refusal shall require at least two attempts by the Department to
schedule an examination or investigation.
(m) Consumer Complaints. Any licensee who
fails to respond to a written consumer complaint or fails to respond to the
Department regarding a consumer complaint, within the time periods specified in
the Department's correspondence to such licensee, shall be subject to a fine of
one thousand dollars ($1,000) for each occurrence.
(n) Failure to Notify or Obtain Approval from
the Department of Change in Ownership, Change in Control, or Designation of
Executive Officer. Any licensee or other person who fails to obtain the
Department's prior approval of a change in ultimate equitable ownership through
acquisition or other change in control or change in executive officer resulting
from such change in ownership or change in control of the licensee in
compliance with O.C.G.A. §
7-1-705.1 and Rule
80-4-1-.01 shall be subject to a fine
of one thousand dollars ($1,000). Any licensee or other person who fails to
timely notify the Department of a change in executive officer not resulting
from a change in control or ownership in compliance with O.C.G.A. §
7-1-705 shall be subject to a fine
of one thousand dollars ($1,000).
(o) Bank Secrecy Act. If the Department, in
the course of an examination or investigation, finds that a licensee has failed
to comply with 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") or the requirements referred to in Rules
80-4-1-.02,
80-4-1-.03, and
80-4-1-.04, such licensee shall be
subject to a fine of one thousand dollars ($1,000) for each instance of
non-compliance.
(p) Failure to Post
Required License or Failure to Include Required Legend on Advertising. Any
licensee that fails to post a copy of its license in prominent view of each
teller window or other customer service station, or distributes advertising in
this state related to the cashing of payment instruments that fails to comply
with the requirements of Rule
80-4-1-.01(4) shall
be subject to a fine of five hundred dollars ($500) for each instance of
non-compliance.
(q) Failure to
Timely Disclose Change in Affiliation of Natural Person that Executed Lawful
Presence Affidavit and Submission of New Affidavit. Any licensed check casher
that fails to disclose that the owner or executive officer that executed the
lawful presence affidavit is no longer in that position with the licensee
within ten (10) business days of the date of the event necessitating the
disclosure, shall be subject to a fine of one thousand dollars ($1,000). Any
licensed check casher that fails to submit a new lawful presence affidavit from
a current owner or executive officer within ten (10) business days of the owner
or executive officer that executed the previous lawful presence affidavit no
longer being in that position with the licensee, shall be subject to a fine of
one thousand dollars ($1,000) per day until the new affidavit is
provided.
(r) Failure to Timely
Update Information on the Nationwide Multistate Licensing System and Registry.
Any licensee that fails to update its information on the Nationwide Multistate
Licensing System and Registry ("NMLSR"), including, but not limited to,
amendments to any response to disclosure questions, within ten (10) business
days of the date of the event necessitating the change, shall be subject to a
fine of one thousand dollars ($1,000) per occurrence. In addition, the failure
of a control person of a licensee to update the individual's information on the
NMLSR, including, but not limited to, amendments to any response to disclosure
questions by the control person, within ten (10) business days of the date of
the event necessitating the change, shall subject the licensee to a fine of one
thousand dollars ($1,000) per occurrence.
(s) Prohibited Acts. Any licensee or other
person who violates the provisions of O.C.G.A. §
7-1-708 shall be subject to a fine
of one thousand dollars ($1,000) per violation or transaction that is in
violation.
(t) Unauthorized Access
to Customer Information. Any licensee that fails to provide the Department with
notice of unauthorized access to customer information as required by Rule
80-4-1-.08 shall be subject to a fine
of one thousand dollars ($1,000) a day until the notice is provided.
Notes
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